USD CAD Technical Analysis 8 May 2020
USD CAD Technical Analysis: The USD declined 1.21% against the CAD on Thursday and closed at 1.3971. Today in European session while USD CAD technical Analysis 8 May 2020 is preparing at at 6:45 GMT, the USD/CAD trading at 1.3950, which is 0.15% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3890 and a fall through could take it to the next support level of 1.3810. The pair is expected to find its first resistance at 1.4110, and a rise through could take it to the next resistance level of 1.4250. For today the expected trading range is between 1.3810, Support and 1.4110 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.3890 Support 2: 1.3810, Support 3: 1.3670
Resistance Levels: Resistance 1: 1.4110, Resistance 2: 1.4250, Resistance 3: 1.4330
USD/CAD Buying Opportunity for Intraday Trading 8 May 2020
Buy near the support area 1.3890 and 1.3810 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 8 May 2020
Sell near the resistance area 1.4110 and 1.4250 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.
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