USD/CAD undecided ahead of the Canadian Retail Sales [Video]

Olimpiu Tuns Learn 2 Trade

The USD/CAD pair moves sideways in the short term and it seems undecided. Most likely, the traders are waiting for the Canadian economic figures before taking action. The Retail Sales and Core Retail Sales are expected to come in worse compared to the previous reporting period, which could be bad for the CAD.

As you can see on the H1 chart, the price action developed a triangle and a range in the short term. A valid breakout from the current range should bring us new opportunities.

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Author

Olimpiu Tuns

Learn 2 Trade

Olimpiu is a seasoned Market Analyst / Trader with 11 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

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