USD CAD Technical Analysis 19 May 2020
USD CAD Technical Analysis: The USD declined 1.20% against the CAD on Monday and closed at 1.3935. Today in European session while USD CAD technical Analysis 19 May 2020 is preparing at at 6:45 GMT, the USD/CAD trading at 1.3900, which is 0.25% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3875 and a fall through could take it to the next support level of 1.3820. The pair is expected to find its first resistance at 1.4050, and a rise through could take it to the next resistance level of 1.4170. For today the expected trading range is between 1.3820, Support and 1.4050 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.3875 Support 2: 1.3820, Support 3: 1.3700
Resistance Levels: Resistance 1: 1.4050, Resistance 2: 1.4170, Resistance 3: 1.4225
USD/CAD Buying Opportunity for Intraday Trading 19 May 2020
Buy near the support area 1.3875 and 1.3820 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 19 May 2020
Sell near the resistance area 1.4050 and 1.4170 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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