let's long USDCAD again !

Keep in mind that it was Thanksgiving on Thursday in the United States, so there’s very little in the way liquidity. Canadian traders are on board, but the traders in New York and beyond as far as America is concerned are basically persona non grata. With that being said, the overall trend is to the upside, and I think that is something that you need to keep in the back of your mind.

Because of this, it makes a lot of sense that we would eventually see a bit of follow through, but it’s also worth noting that we are at a major area of resistance just above. In other words, it is going to take another fundamental reason beyond what we already have for the US dollar to continue going higher.