USD - BULLISH
1️⃣ Investors digest the first debate between Donald Trump and Joe Biden. The debate was full of insults and interruptions and raised concerns of a contested vote and a not so clear result.
2️⃣ Safe-haven dollar is on the rise following the chaotic presidential debate.
CAD - BEARISH
1️⃣ Crude oil fell amid mounting concerns over fuel demand recovery as the number of coronavirus infections continue to rise worldwide.
2️⃣ US dollar index bounces off weekly low amid uncertainty over election results.
3️⃣ Canada's GDP data expected to print lower due to lower retail sales and trade balance.
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TECHNICAL
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- We are looking to long this pair on RBS level + SMA100 area on H1 chart.
- USDCAD in bullish zone.
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RISK TO THIS TRADE
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- This trade will hit stop loss if Canada's GDP printed positive.
1️⃣ Investors digest the first debate between Donald Trump and Joe Biden. The debate was full of insults and interruptions and raised concerns of a contested vote and a not so clear result.
2️⃣ Safe-haven dollar is on the rise following the chaotic presidential debate.
CAD - BEARISH
1️⃣ Crude oil fell amid mounting concerns over fuel demand recovery as the number of coronavirus infections continue to rise worldwide.
2️⃣ US dollar index bounces off weekly low amid uncertainty over election results.
3️⃣ Canada's GDP data expected to print lower due to lower retail sales and trade balance.
=====
TECHNICAL
=====
- We are looking to long this pair on RBS level + SMA100 area on H1 chart.
- USDCAD in bullish zone.
=====
RISK TO THIS TRADE
=====
- This trade will hit stop loss if Canada's GDP printed positive.