USD CAD Technical Analysis Aug 7, 2019
USD CAD Technical Analysis: The USD rose 0.51% against the CAD on Tuesday and closed at 1.3278. Today in European session while USD CAD technical Analysis Aug 7, 2019 is preparing at at 7:15 GMT, the USD/CAD trading at 1.3275, which is 0.02% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3212 and a fall through could take it to the next support level of 1.3147. The pair is expected to find its first resistance at 1.3317, and a rise through could take it to the next resistance level of 1.3355. For today the expected trading range is between 1.3141, Support and 1.3280 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.3212, Support 2: 1.3147, Support 3: 1.3110
Resistance Levels: Resistance 1: 1.3317, Resistance 2: 1.3355, Resistance 3: 1.3422
USD/CAD Buying Opportunity for Intraday Trading Aug 7, 2019
Buy near the support area 1.3212 and 1.3147 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 7, 2019
Sell near the resistance area 1.3317 and 1.3355 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.