USDCAD Bollinger Band Setup Once More
Prepared by Jamie Saettele, CMT
Unable to extend weakness after yesterday’s hawkish comments from the Bank of Canada, the USDCAD formed an inside day. Inside days at the 2nd standard deviation band are low risk contrarian setups (in this case long) and the USDCAD has been bouncing between its 2nd STD DEV (Bollinger) bands anyway since February.
Bottom Line (next 5 days) – higher?
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