USD CAD Technical Analysis November 16, 2018
The USD declined 0.49% against the CAD on Thursday and closed at 1.3175. Today in European session while USD CAD technical analysis November 16, 2018 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3165, which is 0.07% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3138 and a fall through could take it to the next support level of 1.3100. The pair is expected to find its first resistance at 1.3231, and a rise through could take it to the next resistance level of 1.3286. For today the expected trading range is between 1.3100, Support and 1.3231 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.3138 Support 2: 1.3100 Support 3: 1.3045
Resistance Levels: Resistance 1: 1.3231 Resistance 2: 1.3286 Resistance 3: 1.3224
USD/CAD Buying Opportunity for Intraday Trading November 16, 2018
Buy near the support area 1.3138 and 1.3100 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading November 16, 2018
Sell near the resistance area 1.3231 and 1.3286 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.
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