shopify stats

USD/CAD Analysis, Expectations Bearish, Support level 1.0800 for June, 20 2014

June 20, 2014 10:18 am

Yesterday USD/CAD currency pair perform last two days full bearish pattern, from 1.0860 to 1.0892 resistance level and move downward support level 1.0809. Please keep in mind when any currency pair have same movements then bearish pattern fully active and strong, in this case sell trades best, but first also check fundamentals event forecast.

Today USD/CAD Overview:

Dear traders today two types of forces are effect to this currency pair, means USD try to recovery and CAD today have fundamental event, due to that condition this currency pair have bearish – bullish – bearish pattern. In simple wording USD/CAD move in three types of pattern like now move near support level 1.0800 and then move near resistance level 1.0830 and again move downward.

Fundamental Overview:

Today high importance fundamental event like high importance Core Retail Sales (MoM) improve from 0.1% to 0.4% and Core CPI (MoM) stable from 2.0% to 2.0%  and other medium importance event are Retail Sale (MoM) improve -0.1% and CPI (MoM), CPI (YoY), Core CPI (YoY). Overall at this time CAD strong and this currency pair move downward.

Recommendations:

Today USD/CAD have scalping condition all trader get profit on buy and sell, but overall sell trades is best.

Tags:

Comments are closed