usd/cad is now in a very weak technical position by multiple methods of analysis. if it actually ends up strengthening and tanking down tomorrow i’m going to have to question my whole methodology.
results of the NFP report, really is not important.
if it were as simple as a currency weakens when major news was bad and strengthens when major news is good then half of babypips would be millionaires by now.
usd/cad is in such a position that either slightly worse than expected NFP news/average NFP news/ or better than average NFP should send the pair upwards. it will just get there somewhat slower if the news isn’t so good, and maybe dip a little first on news release then in the hours after start going up …weather the report be good or bad several days from now the end result will still be same. usd/cad should have weakened [price should have gone up]
tp is set for 1.12936
yes that is not a typo 1.12936
[at time of writing price is at 1.10285]
it should get there within a couple of weeks according my analysis [infact it should exceed it significantly before a pullback starts]
the news results really is not that important.
If the NFP results was poised to be way worse than expected i do not think usd/cad would be in the position it is in now.
ofcource, i could be wrong tommorow …lol,
but i wish you best of luck on any pairs you decide to trade.