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USD/CAD Rebounds Toward 1.3100
The USD/CAD has been on a tear today, rallying more than 40 pips through the half-way point of the U.S. session. With about 24 hours left to go before Wednesday’s all-important FED meeting, sentiment is mixed toward the Greenback. At this point, currency traders appear content to settle into a holding pattern ahead of Jerome Powell’s commentary scheduled for 2:30 PM EST Wednesday.
On the U.S. economic news front, there wasn’t a whole lot on today’s docket. The big news was a 1.4% year-over-year increase in Pending Home Sales for September. The figure came in at 3.9%, well above expectations of 1.4%. If nothing else, this is a sign that dovish FED policy is promoting mortgage lending and home buying.
While today’s calendar was dull, tomorrow’s is jam-packed. During the pre-market hours, U.S. Q3 GDP is due out. Analysts expect the figure to fall to 1.7% from 2.0%, a symptom of a broader economic slowdown. In addition, crude oil inventories are to be released, with figures expected to show growing supply. To top the day off, the FED Interest Rate Decision and FOMC Press Conference are due out at 2:00 and 2:30 PM EST. Rates are widely expected to be cut by ¼ point.
A significant rebound is underway in the USD/CAD. Bidders are pushing a return to the 1.3100 handle, a level not traded since last Thursday.
Here are the key levels to watch as we roll into Wednesday’s super-charged news cycle:
Resistance(1): Daily SMA, 1.3133
Support(1): Psyche Level, 1.3050
Support(2): Psyche Level, 1.3000
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No influence on this pair from news until later today during US sessions. For now this pair looks somewhat flat. Not much momentum until more North American traders play
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Usd/Cad > BULLISH
PIVOT POINT > 1.3074
S1 > 1.3052
S2 > 1.3038
S3 > 1.3016
R1 > 1.3096
R2 > 1.3110
R3 > 1.3132
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Usdcad
u.s. Dollar / canadian dollar
1.30794
cad
−0.00071 (−0.05%)
market open (oct 30 06:32 utc-4)
1.30865
prev
1.30865
open
28.765k
volume
1.30757 — 1.30960
day's range
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The USDCAD tests the moving average
The USDCAD pair traded positively yesterday but it stopped at the EMA50 that forms good resistance against the intraday trading, accompanied by stochastic reach to the overbought areas, waiting to motivate the price to rebound bearishly to resume the expected bearish trend for the upcoming period, which targets 1.3015 as a next station.
Therefore, the bearish trend will remain valid and suggested unless breaching 1.3155 level and holding above it, noting that it is important to be aware during today’s trading, as we are waiting the release of the BOC rate decision, which might cause high volatility to the pair.
The expected trading range for today is between 1.3000 support and 1.3155 resistance.
The expected trend for today: Bearish
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Forex Forecast with price level
USD/CAD - pair in focus.
Current Price - 1.3078
main support level - 1.3064
main resistance level - 1.3095
Pair likely to be in Sell today.
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The USDCAD tests the moving average
The USDCAD pair traded positively yesterday but it stopped at the EMA50 that forms good resistance against the intraday trading, accompanied by stochastic reach to the overbought areas, waiting to motivate the price to rebound bearishly to resume the expected bearish trend for the upcoming period, which targets 1.3015 as a next station.
Therefore, the bearish trend will remain valid and suggested unless breaching 1.3155 level and holding above it, noting that it is important to be aware during today’s trading, as we are waiting the release of the BOC rate decision, which might cause high volatility to the pair.
The expected trading range for today is between 1.3000 support and 1.3155 resistance.
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Pair: usd/cad
Today indicators shown bearish short terms trend.
Pivot Point : 1.3045
Supporting Levels:
Support 1: 1.2878
Support 2: 1.2890
Support 3: 1.2789
TREND: BULLISH
Resistance Levels:
Resistance 1: 1.3024
Resistance 2: 1.3084
Resistance 3: 1.3145
When today the market is opened then showing up and supporting levels are also available here its not remain here this pair because h4 telling here down side that is up trends.
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Hello..
every one how are you.... I hope all of you shall be all right. ..Jasy k ap sab log janty hain k forex trading itna easy ni ha jitna k hamain nazar aa raha hota ha . Is me emotional conditionns ko b face krna parta ha . Us time jab hamain big loss ho raha hota ha ...iis currency pair pr . Serf vohi log trading kr sakty hain. Jinhain. Market ke kuck know of . Ya phir 5 to 6 years ka experience. Hamary jasy new comers to bus yahan loss khany he aaty hain... in pair ke movement bohat fast ha . Or jasy k apko pata ha . . Chances of losses b bohat hain. . So may ap sab se request krta hon k ap sab log is pair pr Trade krny se pehly Khob isy samj lain itny MACD indicators and technical analysis ko b samj lain. Vo is liy k apko loss k chances kam ho jain. At the end Good luck for your future
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Usd /cad
Market analysis about trading
Today market trend = sell
Oscillator sales volume
Current price
And
Support points and resistance
market ke nechay janey k haq main hain
Sell ki trade profit de gi
Indicators ko follow karte hoye aur
apni samjh soch ke sath trading
Kren
