Check out today's USDCAD Forecast: forex forextrade forextrading
Enter your emailI do like the idea of buying dips, because quite frankly the US dollar is the only currency you can hold for any significant amount of time.has rallied again during the trading session on Wednesday, as we are threatening to break out above the 1.38 level. At this point, the market is likely to continue to show signs of strength, and it looks as if we are going to try to go to the 1.
After all, Canada sidestepped the 2008 destruction of the housing market in the United States, but it looks like the chickens are coming home to roost.On pullbacks at this point, there’s very likely going to be a lot of support near the 1.35 handle, which is an area that is a large, round, psychologically significant figure, and an area where the 50-DayI do like the idea of buying dips, because quite frankly the US dollar is the only currency you can hold for any significant amount of time.
Most Forex traders use the Canadian dollar is a proxy for the market, so if it falls, so does the value of the Canadian dollar.
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