The Canadian is waiting
The pair USD/CAD continues to move in the primary flat, which is caused by restrained dynamics of the US dollar in anticipation of the November meeting of Fed, as well as in connection with the expectation of data on Canada’s GDP and the speech of the head of the Bank of Canada today. See the focus of the market .
During yesterday’s trading session, the pair worked off perfectly recommended by me levels of resistance, which allowed everyone who uses my analytics, earn about 30 points of profit. Learn More…
Technical analysis: Despite the fact that the USD/CAD pair moves in advantageous flat, the price of the instrument is excellent for the support in the region of the broken resistance line of the ascending channel on H4.
- The main resistance levels remain at the marks 1.2850; 1.2900.
- One should consider the main support levels at 1,2810; 1.2780; 1.2750.
Key recommendations: Today, trading in relation to the Canadian currency can be difficult, since the main movement of the Canadian dollar will depend on the comments of the head of the Bank of Canada Poloz. Enter USD/CAD deals with a short stop and with a goal not more than 30 points in anticipation of the press conference of Stephen Poloz. Also, make decisions on trade after the price leaves its corridor with resistance at 1.2850 and support at 1.2810.
Fig. Current price USD/CAD – 1,2849
Alexander Sivtsov