USD/CAD looks to be breaking out of a period of consolidation as the US Dollar’s strength may resume. In such a case, we’d expect to see an aggressive move higher toward the 38.2-61.8% Fibonacci Retracement of the January 20-May 3 Range, which could push USD/CAD up to ~1.3307-1.3832. Therefore, if USD/CAD will resume a Bull-Run, a break above 1.3028/3187 will be the first indication that we could be on our way to multi-100 pip rally. After ...
Trading the News: Canada Consumer Price Index (CPI) A slowdown in Canada’s headline & core Consumer Price Index (CPI) may drag on the loonie and fuel the near-term advance in USD/CAD as it puts pressure on the Bank of Canada (BoC) to further support the real economy. What’s Expected: Why Is This Event Important: Even though BoC Governor Stephen Poloz sticks to the sidelines in 2016 and largely ...
H4 price is located near and below 200 period SMA (200 SMA) for the bearish condition with the ranging within the following key reversal support/resistance levels: 10-day high at 1.3143 located far above 200 SMA in the primary bullish area of the chart, and10-day low at 1.2654 located near and below 100 SMA/200 SMA in the beginning of the bearish area. If the price will break 1.3143 resistance level on close H4 bar so ...
Trading the News: Canada Consumer Price Index (CPI) Despite forecasts for a rebound in Canada’s Consumer Price Index (CPI), a marked slowdown in the core rate of inflation may drag on the loonie and spark a further advance in USD/CAD as it dampens interest-rate expectations. What’s Expected: Why Is This Event Important: Even though the Bank of Canada (BoC) has turned upbeat on the economy in ...
Daily price is on primary bearish market condition for testing key support level at 1.2514 to below for the bearish trend to be continuing. Chinkou Span line and Absolute Strength indicator are estimating the ranging condition, and Trend Strength indicator is evaluating the trend as the bearish in the near future. If D1 price will break 1.2514 support level on close bar so the bearish trend will be continuing. If D1 price will break ...
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