USD/CAD awaits NFP
Read the article on FBS website
Trade ideas
BUY 1.3375; TP 1.3430; SL 1.3355
BUY 1.3310; TP 1.3350; SL 1.3295
USD/CAD is consolidating ahead of the news. The release of the US and Canadian data at 15:30 MT time will bring substantial volatility to the pair. Although the longer-term bias of the pair is bullish, it’s not really strong, so it can't be a major argument. Yet, the daily chart suggests that there are more support levels at the bottom of the current consolidation pattern than resistance levels at its top. As a result, we prefer buy trades.
There are clear support and resistance levels on the H4 chart formed by the previous highs and lows, and trading will be done on the basis of these levels.
