
Canadian Dollar Forecast: USD/CAD Reverses Ahead of August Low
USD/CAD reverses ahead of the August low (1.3722) to stage a four-day rally.
Expertise: Macroeconomics, Technical Analysis
Trading Style: Fundamental and Technical
Time Frame: Medium-Term (2 Days to 2 Weeks)
Type: Trend/Swing
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USD/CAD reverses ahead of the August low (1.3722) to stage a four-day rally.

GBP/USD gives back the rebound from the weekly low (1.3334) as the ISM Services index climbs to 52.0 in August from 50.1 the month prior.

The US is expected to add 75K jobs in August, while the Unemployment Rate is seen widening to 4.3% from 4.2% during the same period.

USD/JPY seems to be defending the rebound from the August low (146.22) as it climbs to a fresh weekly high (149.14).

EUR/USD pulls back ahead of the August high (1.1743) to register a fresh weekly low (1.1613).

USD/CAD falls toward the monthly low (1.3722) as it gives back the rebound from earlier this week.

AUD/USD seems to be defending the rebound from the monthly low (0.6415) as it retraces the decline from earlier this week.

The price of gold bounces back ahead of the monthly low ($3282) to trade back above the 50-Day SMA ($3347).

GBP/USD seems to be defending the rally following the Fed Symposium as it retraces the decline from the start of the week.
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