Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.26469 with take profit at 1.26650.
Bearish Preference:
Sell position is envisaged if price trades below 1.25684 with take profit at 1.25527.
Fundamentals:USD All Day Jackson Hole SymposiumUSD 1:30PM- Prelim GDP q/q
Comment: Full approval of other vaccines are set to follow shortly, and on Tuesday, Dr. Anthony Fauci, the top U.S. infectious disease expert, said COVID-19 could be under control by early next year. Overnight, data showed new orders for key U.S.-made capital goods were steady in July, while an acceleration in shipments suggested business investment in equipment could offset an anticipated slowdown in consumer spending and keep the economy on a solid growth path in the third quarter.
Analysis: SCRUM Team