USD CAD Technical Analysis August 20 2018
The USD declined 0.72% against the CAD on Thursday and closed at 1.3061. Today in the European session while USD CAD technical analysis august 20, 2018 is preparing at 9:45 GMT, the USD/CAD trading at 1.3065, which is 0.03% hogher from yesterday’s close.
In the American Session Canadian data showed that, Canada’s consumer price index rose 0.50 percent in July from 2018 compared to the previous month. Inflation in Canada, the average maternal rate from 1950 to 2018 was 0.29%, the highest level of 2.60% in January 1991 and record low -1.30% in June 1959.
Foreign Securities Purchases: Foreign investment in securities in Canada was $ 11.5 billion in June from $ 3.0 billion in May. At the same time, Canadian investment in foreign securities rose to $ 11.3 billion, the largest investment since January 2018. As a result, international securities transactions achieved a net cash flow of $ 256 million in the Canadian economy in June. Bringing the total to $ 7.6 billion In the second quarter. Total foreign investment in Canadian securities totaled $ 11.5 billion in June and was mainly targeted at the Canadian bond market
When the US market opens, US release a economic data United States Federal Reserve Exchange Rate: In line with market expectations in August 2018. The Fed placed its target range at 1.75% to 2% for the federal fund rate. Policymakers said that abor market continued to strengthen and that economic activity was increasing at a strong rate, suggesting a possible rate hike at its next meeting in September 2018.
USD CAD Technical Analysis August 20 2018.
The pair is expected to find the support at 1.3018. And a fall through could take it to the next support level of 1.2976. The pair is expected to find its first resistance at 1.3136. And a rise through could take it to the next resistance level of 1.3210. For today the expected trading range is between 1.2900, Support and 1.3136 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.3018 Support 2: 1.2976 Support 3: 1.2900
Resistance Levels: Resistance 1: 1.3136 Resistance 2: 1.3210 Resistance 3: 1.3243
USD/CAD Buying Opportunity for Intraday Trading August 20, 2018
Buy near the support area 1.3018 and 1.2976 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji
USD/CAD Selling Opportunity for Intraday Trading August 20, 2018
Sell near the resistance area 1.3136 and 1.3210 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji