Some of the markets were off yesterday and the day before yesterday so that to honor WWII veterans and celebrate the 72 years since the end of the war. That is why some of traders are coming back to their trading spaces with tremble today. Today all of them – EUR, USD, CAD and GBP are going to experience shakes as all of these are experiencing and waiting for reports today. So trading as a whole is going to be full of surprises today even though a lot of us were hoping for a slow Friday. We are going to focus on USD/CAD pair as the price for CAD are also dependent on oil which hasn’t been the example of stability lately.

 

10.05.2019 usdcad

 

No one is sure whether USD/CAD is going to be stable for shorting and longing traders to agree on actions for the future, but right now CAD is pretty confident in its growth although this recovery is a little bit weird as oil keeps on jumping. It is likely that recent CAD moves can be attributed to traders losing faith in USD due to the uncertainty in US-China relationship.

 

But it is only for now. Remember that today both USD and CAD are going to experience shakes and rapid changes. That is why we desperately need trading signals to help us out today.