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I prefer to stay on the long USD side of FX majors, and Short Gold, as we are very likely to get cold water thrown on the idea of any further Fed rate cuts – hence the USD should lift sharply during the aftermath of the Powell press conference.
 
USD/CAD to bounce back – very likely, and Gold to punch significantly under $1,480 in the aftermath of the sentiment for the US dollar.
 
BUY
USDCAD
1.3070
Target: 1.3150 (+80 pips)
Stop 1.3000 (- 70 pips).

USD/CAD Building bounce momentum

Dec 01 2020