Canadian Dollar Technical analysis update
As mention in, last post: Canadian Dollar face a very interesting situation for the continuing trend
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
The upcoming month will be included a few important data for the looney-need to be watching:
8.2.2019 – Employment Change & Unemployment Rate
13.2.0219 – Trade Balance
21.2.2019 – Core Retail Sales
27.2.2019 – CPI m/m
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| USD CAD ANALYSIS |
USD CAD technical analysis:
now we are on the second leg – expecting a bit of recovery and then continue to fill this journey- the pattern will be failed if USD CAD will break up again 1.3370 or break down to 1.2830
break down 1.2830 will sen cad to 1.24+_
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| USD CAD CHART |
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