USD CAD Technical Analysis Aug 16, 2019
USD CAD Technical Analysis: The USD declined 0.03% against the CAD on Thursday and closed at 1.3312. Today in European session while USD CAD technical Analysis Aug 16, 2019 is preparing at at 7:15 GMT, the USD/CAD trading at 1.3292, which is 0.15% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3285 and a fall through could take it to the next support level of 1.3258. The pair is expected to find its first resistance at 1.3338, and a rise through could take it to the next resistance level of 1.3365. For today the expected trading range is between 1.3365, Support and 1.3258 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.3285, Support 2: 1.3258, Support 3: 1.3285
Resistance Levels: Resistance 1: 1.3338, Resistance 2: 1.3365, Resistance 3: 1.3392
USD/CAD Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1.3285 and 1.3258 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading Aug 16, 2019
Sell near the resistance area 1.3338 and 1.3265 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.