![USD/CAD Short Trade](/storage/article/31928/preview/E8SjWKte47ZqnXaQ_2560x600_q70.jpg)
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
2019-11-11 • Updated
USD/CAD continues to fall after the recent breakout of the key support level 1.2770 (former pivotal resistance level from August). The breakout of the support level 1.2770 accelerated the active minor impulse wave 1 – which belongs to the intermediate impulse (3) – which started previously from the resistance zone lying between the 200-day moving average and the round resistance level 1.3000. USD/CAD is expected to fall to the next sell target at the next support level 1.2600.
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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