Canadian Dollar Forecast: USD/CAD, CAD/JPY Risk of Reversal Rising
Canadian Dollar Forecast: USD/CAD, CAD/JPY Risk of Reversal Rising 2021-05-13 09:35:00 Justin McQueen, Analyst USD/CAD | Watch Macklem for Possible Currency Comments CAD/JPY Beginning to Look Stretched on the Topside USDCAD: Since the BoC’s hawkish taper, CAD strength has been dominant with USD/CAD dropping over 4.8% and hitting a six year low. However, with the move looking somewhat overcooked, yesterday’s bounce from 1.2061 might be the first sign of a possible reversal. I must note that I have been in favour of CAD strength, given my Q2 trade idea. But with that said, the risk to rewar...
Source: dailyfx.com