USD CAD Technical Analysis October 1, 2018
The USD declined 0.98% against the CAD on Friday and closed at 1.2911. Today in European session while USD CAD technical analysis October 1, 2018 is preparing at at 10:45 GMT, the USD/CAD trading at 1.2820, which is 0.70% lower against CAD from yesterday’s close.
In American session, data showed that according to the Industrial Product Price Index (IPPI), the price of products sold by Canadian manufacturers fell by 0.5% in August, mainly due to the fall in prices of primary non-ferrous metals. According to the raw material price index (RMPI), the price of raw materials purchased by Canadian manufacturers fell by 4.6%, mainly due to the fall in the price of crude oil energy products. After falling 0.2% in July, IPPI fell by 0.5% in August.
USD CAD technical analysis October 1, 2018
The pair is expected to find the support at 1.2817 and a fall through could take it to the next support level of 1.2727. The pair is expected to find its first resistance at 1.3000, and a rise through could take it to the next resistance level of 1.3093. For today the expected trading range is between 1.2700, Support and 1.3000 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2865 Support 2: 1.2817 Support 3: 1.2727
Resistance Levels: Resistance 1: 1.3000 Resistance 2: 1.3093 Resistance 3: 1.3140
Previous day`s high: 1.3046
Previous day`s low: 1.2909
USD/CAD Buying Opportunity for Intraday Trading October 1, 2018
Buy near the support area 1.2817 and 1.2727 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading October 1, 2018
Sell near the resistance area 1.3000 and 1.3093 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.
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