USD/CAD Analysis and News 2015.05.05

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USD/CAD Analysis and News 2015.05.05

Source: Exness Broker

Sell on a level breakthrough of 1.2082 with 1.1944 target. Stop loss = 1.2140.

Reason for the trading strategy

Today, Canada’s and the United States’ foreign trade statistics will be published. A reduction in Canada’s trade deficit and a decline in the US net exports are likely to put pressure on the USD/CAD pair. A sharp strengthening of the US dollar in Q1 2015 reduces the competitiveness of the US products in international markets causing concern to the American regulator.

USD/CAD Chart

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