12 days ago
USDCAD continues to decline and I have not decided to set TP (still watching)
Today USDCAD is fully bearish and targeting daily support at 1.4325.
Technically, the decline in USDCAD is still very strong and is targeting the demand area.
13 days ago
President Donald Trump raised tariffs by 25% on imports of goods from Canada and Mexico as well as China, and will be enforced on Tuesday, March 4, 2025.
This has an impact on USDCAD, which at the end of trading yesterday, March 3, the USD strengthened against the CAD.
Canadian PM Justin Trudeau said he would impose a 25% import duty at the same time, this is the impact of Canada's revenge for the tariff increase imposed by the USA.
The impact of the Canadian PM's statement, CAD strengthened today in response to resistance to US tariffs.
Technically, USDCAD is still above EMA200. And can Canada's retaliatory action encourage CAD to strengthen (bearish USDCAD) ???..
TF H4 shows demand in the 1.4330 - 1.4290 area where EMA20 crosses EMA50, technically the price will go to the demand area, yup CAD will not remain silent and will fight against USD. Bearish indication for USDCAD.