Canadian Dollar Technical analysis
The upcoming trading week is about to be filled with critical data for the Canadian dollar
It starts Today with a trade balance announcement
And continues on to the Wednesday -interest rate decision will be published In conjunction with a press conference of the Governor of the Bank
Expectations are for an increase in the interest rate from 1.75% to 2.00%
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| USD CAD ANALYSIS |
On all my USD CAD posts I was talked about the long-term moves and try to draw conclusions for the future on this pair, we got the bounce and now my assumption s& scenario is a bit complicated and you need to be ready for a lot of movements on the USD CAD if 1.3260 area will not hold so the next target will be at 1.3170 area and even lower to 1.3100, break down again 1.2970 will confirm more downside to 1.2860.
from the other side Support on this area will confirm continued movement up
In my opinion, if you pay close attention to the charts, you can see two identical cases, which occurred in the past in a pair, will the third time be the same?
If so, then I expect the Canadian dollar to fall into those areas I mentioned, and then move back towards 1.39
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
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