USD/CDN Forecast

[shiftybullet]

Anyone have any idea of what to expect from these two in the coming days?

Thank You
Kody

[Habib]

I feel they will drive USD/CAD down to 1.2350 or even 1.2300 despite a possible strength of USD against other currencies and then if the USD has a good standing among others, they will take it up much beyond the 1.2615 level seen recently. I would say 1.2800 to 1.2900 may be on the cards in a month's time or so, but I would wait for the dip to at least 1.2350 before jumping in.

[novice]

I think that from the long term perspective the current rally in USD/CAD offers a great chance to go long the CAD. Just need to wait for a reversal.

Oil prices are already recovering. CAD should follow these up long term.

[Habib]

I agree novice, Canada has huge minerals and oil deposits in Sask and Alberta areas.
However, before long term we got to deal with short term and medium term.
As a forex trader I do think letting long term prospects influence your thoughts can be damaging.
But you are a wise man and I do respect your opinions and thoughts in general.

[Jaketrader]

Hi habib,
canadian employment came out 37 minutes ago, better than expected headline

[shiftybullet]

Thanks for the help guys, much appreciated


Kody