USD/CAD Forecast: USD Gives Back Early Gains Against CAD

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I would not risk trying to get too aggressive in the USDCAD market due to the fact that there can be a lot of choppy and unacceptable volatility that can cause a lot of unnecessary damage to your trading account.

This is not a huge surprise considering what has been going on in the oil market, which of course has a major influence on the Canadian dollar itself. That being said, I believe it is probably only a matter of time before we have to make a bigger decision, but Friday itself is going to be very volatile and dangerous due to the fact that both of these countries are going to be announcing jobs figures.

. The 200 day EMA currently sits at the 1.2625 handle, so that is where we need to pay close attention to.

Source: Digital Coin News (digitalcoinnews.net)

 

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