the daily chartist

USD/CAD recap for 29.09; 30.09; 01.10.2015

published 5 years ago

USD/CAD finaly at 1.33951 found its match and the price is moving lower. This move in the weakening of the dollar against the canadian dollar is supported by the weak USD and the rising in oil prices recently due to hurricane Joaquin, gas prices also took a sharp move higher. If conditions remain beneficial for the CAD to appreciate more, the price may move even to 1.30596 and the correction could end there. Still I would wait to see for a confirmation from the price movement and look for an entry on the lower time periods. Anyway, the price is "begging" for a correction, so seems a right time to plunge 200 pips more.