empty
 
 
09.09.2022 06:48 PM
USD/CAD: up-channel violated, deeper drop needs confirmation

The USD/CAD pair rebounded in the last hours but the downside pressure is still strong in the short term. Technically, the pair is in a corrective phase after registering a strong upwards movement.

The price rebounded only because the Dollar Index recovered and because the Canadian Unemployment Rate increased unexpectedly from 4.9% to 5.4%, far above the 5.0% expected. In addition, the Employment Change came in at -39.7K versus the 15.0K expected and below the -30.6K in the previous reporting period.

The Canadian Capacity Utilization Rate and the US Final Wholesale Inventories reported better than expected data.

USD/CAD Broken Levels Retest!

This image is no longer relevant

USD/CAD found support below the S1 (1.3) and now it has bounced back. It was almost to reach and retest the broken uptrend line which represents an upside obstacle. 1.3076 and the downtrend line represent resistance levels as well.

Breaking below the uptrend line signaled a larger corrective phase. It could extend its drop as long as it stays under the immediate resistance levels.

USD/CAD Forecast!

A new lower low, dropping and closing below 1.2981 activates more declines and brings new short opportunities with a potential target at 1.2900.

Ringkasan
Segera
Analitic
Ralph Shedler
Mulakan perdagangan
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $6000 lebih lagi!
    Dalam Diseember kami membuat cabutan bertuah $6000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget