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February, 7 - will USD/CAD keep up with its volatility?

Several days ago we were already discussing how CAD miraculously manages to push back against the greenback. Of course we were claiming that is was oil, that gave CAD such an enormous power to push back against the dollar. And today CAD might just find another set of stimuli needed to send USD/CAD chart lower and lower.

 

Yesterday the couple surged after the news on American employment situation became a very good steam power behind USD growth. The couple started to surge, but fell pretty quickly. Why? Well, CAD is still pretty powerful and has enough energy to push back against its counterpart no problem. But, today we will see more info on employment situation, but for Canada. And if we like what we see, chances are that the couple is just going to plummet lower.

 

usdcad 7.02.2020

 

USD/CAD has been pretty volatile, as you can see. This means that neither of the currencies is ready to give up its power. But, today’s reports might just change it all.

 

If you want to understand what is happening with the couple, just use our trading signals.

 

 

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