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USD/CAD SHORT

by SignalFactory   ·  October 7, 2019 | 06:21:50 UTC  

USD/CAD SHORT

by SignalFactory   ·  October 7, 2019 | 06:21:50 UTC  

Investors looked past Friday’s mixed US monthly jobs report, a goodish pickup in the US Treasury bond yields extended some support to the US Dollar and turned out to be one of the key factors lending some support to the major.

Weaker oil prices remain supportive

It is worth reporting that the latest US employment details showed that the US economy created less-than-expected 136K jobs in September and the unemployment rate unexpectedly dropped to a near 50-year low level of 3.5%.

However, the prevalent weaker sentiment around Crude Oil prices continued undermining demand for the commodity-linked currency – Lonnie and helped limit any deeper losses rather than assisted the pair to regain some traction on Monday.

USD/CAD SHORT (Sell)

ENTER AT: 1.33260

T.P: 1.33120

S.L: 1.33500

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