Weekly forex market price action analysis: August 12 to 16, 2019

Weekly forex market price action analysis: August 12 to 16, 2019
Source: Joy Business
Date: 14-08-2019 Time: 08:08:55:am

The bearish momentum on the USD/CAD Pair which became apparent in the month of June remains valid.

Last week, we saw a bearish fakery setup develop at key resistance level 1.32827 as the president of the United States, Donald Trump tweeted that the US Dollar is too strong and that a strong Dollar does not make US exports competitive in the international markets and so the Fed should take steps to weaken the US Dollar.

This presents no brainier selling opportunities for traders who aren’t already short on this pair.

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