Forex : USD/CAD Slips to Fresh Weekly Low; Retail FX Stuck on Wrong Side

published 4 years ago by Daily FX TV

The retail FX crowd remains net-long USD/CAD even as the pair slips to a fresh weekly low following the better-than-expected Canada Retail Sales report. #news #USDCAD #USDOLLAR @DavidJSong

It's Wednesday June 22 I'm David song currency analyst barely a fax and even though market attention turns to the UK referendum on tap for tomorrow we did see a nice market reaction to the better than expected Canada retail sales report with the dollar can exchange rate slipping to fresh weekly Lowe's so on that front look to what's on the downside risk as it looks as though the near term bear summation may continue to take shape over the coming days and now as we're watching this down we're training channel largely carried over from the previous month take shape watch and see whether it will continue to give back the rebound from earlier this month especially after we had this failed attempt to test the month the opening meets the monthly high if you will so we're going to watch this new consumers of lower highs we'll see if in fact that will lead to fresh lows here not the string of lower lows over the coming days but for now will favor the downside here as not only prices large preserving spare formation but were also seen something similar here ...

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