USDCAD Breakout and Potential Retrace

Long

Dollar Américain / Dollar Canadien (FX:USDCAD)

FX:USDCAD Dollar Américain / Dollar Canadien

trendanalysis fundamental beyondta usdcad usd cad sell short bearish technicalanalysis containsimage

Hey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.34 zone, USDCAD was trading in an uptrend and successfully managed to break it out after a bunch of soft USD data including NFP, CPI and PPI which signal a pause of rate hikes from the federal reserve. A dovish fomc should be bearish on Dollar and bullish for stocks and cryptos.
Trade safe, Joe.

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