The USD/CAD pair rose during the session as the Non-Farm Payroll numbers came out at 120, 000 jobs were added last month, versus the 200,000 expected. The 200 EMA is just above the parity level that has been acting as such resistance lately.
The pair is most certainly a short-term traders market, and as a result this is exactly how we trade it. We know the trend is certainly down, so our favorite trade at the moment is to sell every time we get to parity, and close out the trade at a gain of 50 pips.
Written by FX Empire