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May, 17 - USD/CAD can snap under the weight

Today, as dollar climbed to the highest point in 4 days and prices for oil are getting higher and higher we are to face the battle between USD and CAD – a battle that has been put on hold as traders turned more attention towards Europe and Great Britain. Canada is a relatively calm trading region right now and too much attention to it would be unsanctioned. But today the growth of both dollar and CAD draws our attention towards the couple.

 

usdcad 17.05.2019

 

We can see that after a pretty strong uptrend there is a little bit of retractions, but in the end it seems that prognosis for the USC/Cad couple is more that optimistic for now. Although we can never know what is going to happen during the day and what direction the couple is going to take in the end of the trading week.

 

That is exactly why using your trading signals is a huge must today!

 

 

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