USD CAD Technical Analysis September 20, 2018
The USD declined 0.36% against the CAD on Wednesday and closed at 1.2926. Today in European session while USD CAD technical analysis September 20, 2018 is preparing at at 10:45 GMT, the USD/CAD trading at 1.2910, which is 0.12% lower against CAD from yesterday’s close.
When the US market opens, the economic data will release Existing home sales in the US: In July 2018, sales of previously owned homes in the United States fell by 0.7% quarter-on-quarter, with a seasonally adjusted annual rate of 5.34 million, which rose to 5.4 million compared with the market expectation of 0.6%. This is the fourth consecutive decline and the lowest interest rate since February 2016.
USD CAD technical analysis September 20, 2018
The pair is expected to find the support at 1.2880 and a fall through could take it to the next support level of 1.2832. The pair is expected to find its first resistance at 1.2934, and a rise through could take it to the next resistance level of 1.3060. For today the expected trading range is between 1.2900, Support and 1.3136 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2880 Support 2: 1.2832 Support 3: 1.2765
Resistance Levels: Resistance 1: 1.2934 Resistance 2: 1.3060 Resistance 3: 1.3108
Previous day`s high: 1.3013
Previous day`s low: 1.2899
USD/CAD Buying Opportunity for Intraday Trading September 20, 2018
Buy near the support area 1.2880 and 1.2832 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 September 20, 2018
Sell near the resistance area 1.2934 and 1.3060 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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