Usd/Cad

[Ex.ness Support]

The Bank of Canada's actions have supported the Loonie

USDCAD
Jan. 21, 2016, 10:20
Sell on a level breakthrough of 1.4449 with 1.4310 target. Stop loss = 1.4500.

Reason for the trading strategy

Yesterday, the Bank of Canada kept its benchmark interest rate unchanged at 0.5% while waiting for its reduction to 0.25%, which supported the Loonie. The regulator increased its estimate of Canada's GDP growth from 1.1% to 1.2% in 2015, the forecast for 2016 was reduced from 2.0% to 1.4%. The forecasts do not take into account the expected effect of fiscal measures that promise to significantly help the growth of the economy.

USDCAD, H1

[TheFxTrader]

US dollar versus the Canadian dollar negatively marked yesterday's trading influenced by the Bank of Canada's decision that kept the interest rate unchanged, after it had been forecast to a possible lowering of interest rates, which pushed the price to move closer to the pivotal support which resides at 1.4430, and as we pointed out yesterday , stability above this level represents an important condition for the continuation of the main positive scenario, which is organized within the ascending channel shown above.

[jhorad]

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[bimarosidin]

USDCAD will up if candle cross in fibo 23,6 / at price 1.4523 and if bounce will bact to trend yesterday./ bact to down

[TheFxTrader]

Managed to pair the US dollar against the Canadian dollar to bounce up to the resumption of the bullish major trend, surpassing the ascending channel shown in the image resistance, opening the way for further gains in the short and medium term, pending the target level of 1.4894 in the coming period.

[bimarosidin]

I think for USDCAD still will up because big trend still up and movement today up in fibo 161.8 / at price 1.4685

[TheFxTrader]

US dollar versus loonie appears sideways trading since yesterday stable above 1.4500, and audited look at the graph, we find that the price draws a double top sub-model, the level of his assertion resides at 1.4485, and thus, the break of this level will push the price to achieve some temporary decline before resuming the bullish major trend.

[bimarosidin]

i think USDCAD stil continue for naik for target .my target at price 1.4579

[TheFxTrader]

The resumption of the US dollar versus loonie positive trading penetrates the level of 1.4480 and touching the barrier of 1.4600 with the opening of trading today, reinforcing expectations of further rise on the intraday and short term, noting that the price fluctuates around the rising channel resistance now, to cover the price gap emerging that have emerged with the beginning today.

[jhorad]

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