USD CAD Technical Analysis September 4, 2018
The USD rose 0.14% against the CAD on Monday and closed at 1.3091. Today in European session while USD CAD technical analysis September 4, 2018 is preparing at at 8:45 GMT, the USD/CAD trading at 1.3120, which is 0.01% higher against CAD from yesterday’s close.
When the US market opens, Canada will release economic data Canada Manufacturing PMI: Manufacturing PMI came from 56.5 in July 2018, just below 57.1 the previous month and compared with market expectations at 57.5. The output has grown significantly since March 2017, partially offsetting the softest rates for new business growth and job creation compared to June. In particular, the increase in export orders was the least known since March amid reports of high transport costs, and in some cases, increases in production prices were linked to trade tariffs. In fact, factory gate prices were the highest since the survey began in October 2010, which was largely related to the impact of US trade tariffs on steel and aluminum. Input cost pressures were also slightly lower than the seven-year peak in June, linked to trade tariffs for metal products, as well as higher fuel prices.
USD CAD Technical Analysis September 4, 2018
The pair is expected to find the support at 1.3055 and a fall through could take it to the next support level of 1.3020. The pair is expected to find its first resistance at 1.3137, and a rise through could take it to the next resistance level of 1.3172. For today the expected trading range is between 1.2900, Support and 1.3136 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.3056 Support 2: 1.3020 Support 3: 1.3000
Resistance Levels: Resistance 1: 1.3113 Resistance 2: 1.3137 Resistance 3: 1.3172
Previous day`s high: 1.3101
Previous day`s low: 1.3043
USD/CAD Buying Opportunity for Intraday Trading September 4, 2018
Buy near the support area 1.3056 and 1.3020 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji
USD/CAD Selling Opportunity for Intraday Trading September 4, 2018
Sell near the resistance area 1.3137 and 1.3172 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji
EUR/USD Technical Analysis September 4, 2018