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USDCAD
We will discuss the currency pair that we observe throughout the consolidation. As I wrote, we have been waiting for the breakout of consolidation for two weeks. I do not like such signals that are caused by some events because they do not make much sense except for fear, panic or euphoria and hope … In this situation it is obvious the fear and panic of people who in crowds exchange their currency for dollars in exchange offices and more. In my country, there has been a significant increase in exchanges of larger sums than the standard, i.e. several thousand dollars. Until now, dollars were usually exchanged in “tourist” amounts of several hundred dollars. So we see a significant appreciation of the US dollar due to retailers in the world market. Will the trend continue? I cannot predict this, but assuming that the invasion of Ukraine will continue, unfortunately the situation may only get worse and we can see much higher amounts on the charts.
