USDCAD TECHNICAL ANALYSIS ON DAILY TIMEFRAME
Publish Date : 2019/09/16 - 07:18

USDCAD TECHNICAL ANALYSIS ON DAILY TIMEFRAME


Canadian dollar strengthened and it put USDCAD under pressure.the pair rose after retail sales and CPI for 7 consecutive days.

But it seems that the pair may intend to fall today.

If 1.3298 acts as resistence,the pair may fall and form a lower high.

Moreover,a pinbar(hammer) candlestick is formed on 3rd September.

Note that many news other than crude oil affect USDCAD.

We will have FOMC on Wednesday.if FED will not cut the interest rate,it is possible that US dollar will rise.

Howover,this week is a risky week for the pair.

Source:Forex.com

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