• USDCAD: 290-Pip Reversal Underway?


    USDCAD has spent the better part of 2019 moving sideways. However, the price action in early March saw buyers take advantage of what appears to be a bottoming pattern. The inverse head and shoulders below could be indicative of a move higher. You can see how buyers defended new support at 1.3290 during yesterdays session. And USDCAD bulls are off to a fast start once again today. My only concern here is the U.S. dollar. Ive been relatively vocal about the potential for a EURUSD rally later this year. And that means a weaker USD at some point. But that could happen later this month or two months from now, so it may not ... (full story)