USD/CAD: Possible new upward movement

USD/CAD: Upward trend on 4 hour graph and short term correction

Fibo correction to levels around 61.8%- support level

Price action: engulfing bar at 4 hour graph- signal for long

We wait for some pips in order to get a better position around 1.3048

CCI (50) passed above 100- signal for possible upward movement

DeM goes below 30

Fundament:This week the data about Nonfarm Payrolls is coming out. The expectations are good, thus we might see the dollar increasing its value. Stock markets are around their highs, which means that consolidation is possible, meaning a weaker CAD.

Stefan D. Angelov – Head of Stocks Trading

 Varchev Traders

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