The reasons why I strongly believe this move will happen are the following:
In other words, the CAD is getting weaker and the USD stronger.
- According to the CFTC non-commercials are shorting CAD.
- From a monthly perspective there is plenty of buy side liquidity in USDCAD.
- From monthly perspective the price already liquidates sell side liquidity.
- The price has bullish structure.
- There is a lot of optimists about the dollar getting stronger in the near future.
- DXY has bullish structure.
In other words, the CAD is getting weaker and the USD stronger.
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Bình luận:
The trade is active and on its way. It's very likely that we can see this movement happen faster than expected since the CAD is a bit more stable and stabilizing, and the dollar remains hot due to inflation.
Wiiso