Hello Traders,
USD/CAD has continued its bearish trend. Today we see a bearish engulfing pattern which signals a strong bearish continuation. It has broken through the support trendline at 1.33 however it has pulled back up. The US interest rate announcement is tomorrow, therefore there will be continued volatility. It is best not to trade during this time however there is a good short potential here based on the technical however if US comes with a surprise interest rate hike there will be a bull run for USD. Be patient and disciplined.
USD/CAD has continued its bearish trend. Today we see a bearish engulfing pattern which signals a strong bearish continuation. It has broken through the support trendline at 1.33 however it has pulled back up. The US interest rate announcement is tomorrow, therefore there will be continued volatility. It is best not to trade during this time however there is a good short potential here based on the technical however if US comes with a surprise interest rate hike there will be a bull run for USD. Be patient and disciplined.