USD CAD Technical Analysis September 28, 2018
The USD rose 0.18% against the CAD on Thursday and closed at 1.3040. Today in European session while USD CAD technical analysis September 28, 2018 is preparing at at 10:45 GMT, the USD/CAD trading at 1.3015, which is 0.19% lower against CAD from yesterday’s close.
When the US market opens, The Canadian economic data will release Canada’s GDP ratio: Canada’s economic activity remained unchanged in June 2018, following a 0.5% increase in May and a market growth of 0.1%. Commodity procurement industry shrank 0.2% (0.5% in May), namely mining, quarrying and oil and gas extraction (-0.9%); construction (-0.2%) and utilities (-0.5%). On the other hand, manufacturing growth (0.3%). At the same time, with the growth of most industries, the service industry rose slightly by 0.1% after rising 0.5% in May.
USD CAD technical analysis September 28, 2018
The pair is expected to find the support at 1.3000 and a fall through could take it to the next support level of 1.3077. The pair is expected to find its first resistance at 1.315, and a rise through could take it to the next resistance level of 1.2990. For today the expected trading range is between 1.2973, Support and 1.3077 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.3000 Support 2: 1.2973 Support 3: 1.2936
Resistance Levels: Resistance 1: 1.3077 Resistance 2: 1.315 Resistance 3: 1.3148
Previous day`s high: 1.3080
Previous day`s low: 1.3010
USD/CAD Buying Opportunity for Intraday Trading September 28, 2018
Buy near the support area 1.3000 and 1.2973 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 28, 2018
Sell near the resistance area 1.3077 and 1.315 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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