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September, 16 - USD/CAD acts exactly as it is supposed to.

So, we have talked about oil today already. And while the crude is still climbing and gaining price and it is still unclear what is going to happen to it in the next 2-3 days, it is our trading duty to try and earn off of its growth and off the influence that it might be having on the other assets, especially currencies. And one of the most famous currencies that is going to gain power while oil is growing is Canadian dollar, and is it is going to grow, then the USD/CAD chart is going to go lower and lower. And let’s look at the chart right now.

 

usdcad 16.09.2019

 

Well! What do you know! The chart is plunging down like it is supposed to in the situation like we are seeing today. And we can see that even despite the efforts of the greenback to put up a fight, CAD is still the strongest one of the couple today. Of course, if oil suddenly loses price, we are going to see CAD so the same as well, and the chart is going to sore, especially after the fall like this, but for the time being, Canadian dollar is displaying a perfect bullish trend, which make the chart go all bearish, of course.

 

Know the exact timeline of USD/CAD movements by using our trading signals!

 

 

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