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November, 29 - will USD/CAD break its glorious surge?

Those trading USD/CAD couple are probably really on edge today. After all, it is not often that we see a situation like today – Canadian dollar Is waiting for the GDP data and the whole of the USA, aka the country that trades USD the most actively, is on holiday. To make a long story short – there is a high chance that later today, USD/CAD is going to reverse a month-long uptrend and will fall.

 

usdcad 29.11.2019

 

Well, such was the prediction of the markets makers at least. Now, it is hard to say whether the GDP data of Canada is going to be so damning for the couple after all, because, as we can see, the couple feels very good and the growth is simply undeniable at the moment. This is the uptrend that we all needed to finish a week as turbulent as the one we had, with all the trade war uncertainties and USA being on holiday for the last two days.

 

So, will the growth break after all? Well. I can say that we probably still have several hours to enjoy the surge of the couple. After that, we will see. But, seeing how the prices for oil – the closest ally of CAD, are falling, there is a high chance that we are going to see the couple extend its gains despite all of the prognosis.

 

In order to be absolutely sure of the growth, use your trading signals right now!

 

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