USD/CAD Forex Signal: Loonie Strength to Accelerate

Bearish View

  • Sell the USD/CAD pair and set a take-profit at 1.2700.
  • Add a stop-loss at 1.2850.
  • Timeline: 1-2 days.

Bullish View

  • Set a buy-stop at 1.2850 and a take-profit at 1.2950.
  • Add a stop-loss at 1.2750.

The USD/CAD price came under pressure on Monday morning as the US dollar weakness continued. The pair slipped to a low of 1.2800, which was the lowest level since June 13 of this year. It has fallen by about 3.15% below the highest point this year.

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