Bullish traders are seizing the opportunity to make profits by entering the USDCAD market at 1.32400, especially as we approach the end of the month.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- USD/CAD bulls move in for the easy money into month end.
USD/CAD has come up for air as the following analysis will show. It’s month’s end so traders look to square up following a disappointment in US data to cap the stronger performance this week. The Federal Reserve’s preferred inflation gauge rose 0.3% MoM, in line with forecasts and below 0.4% in April while the annual core rate slowed to 4.6% and the headline PCE rate reached the lowest in nearly two years.
In contrast to this week’s firmer data, profit-taking has ensued and bears have thrown in the towel in preparation for a new month in the ebbs and flows of the market testing prior lows of the week’s opening balance.
CAD is therefore pressured as follows:
The daily chart hits the upper end of the 1.32 area and bull eye a significant correction towards key resistance.
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
