USD/CAD Daily Long Potential
Hello Traders,
The US real Gross Domestic Product (GDP) expanded at 2.4% annually, above the consensus of 1.8% giving strength to the USD. We also see USD/CAD is above the 10 and 20 EMA which do signal bullish momentum. However after a strong rally, we may see some pullback before continuation of the bullish trend. Be patient and wait for confirmation.
The US real Gross Domestic Product (GDP) expanded at 2.4% annually, above the consensus of 1.8% giving strength to the USD. We also see USD/CAD is above the 10 and 20 EMA which do signal bullish momentum. However after a strong rally, we may see some pullback before continuation of the bullish trend. Be patient and wait for confirmation.