Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD trade Idea

  • USD/CAD is continuing its bullish trend and hits fresh 1-1/2 month high on account of weak Canadian retail sales. The pair high of 1.27595 yesterday.  It is currently trading around 1.27116. The good jump in USD/CAD yesterday was due to sharp decline in Canadian retail sales.
     
  • Canadian retail sales declined unexpectedly by 0.8% for the month of Dec and excluding motor vehicle and parts dealer’s retail sales dropped 1.8%
     
  •  Oil prices jumped almost more than $2 on declining crude inventory. Energy Information Administration said that U.S crude stockpiles fell by 1.6 million barrels and its first inventory draw in four weeks. Crude oil prices hits high of $63.06 and is currently trading around $62.40.    
     
  • On the higher side, major resistance is around 1.2760 and any break above will take the pair till 1.280/1.2830 (233- day MA).
     
  • The near term support is around 1.2675 and any break below will take the pair till 1.2630 (5- day MA)/1.2578 (10- day MA)/1.2520. Short term bearish continuation only below 1.2450.

It is good to buy on dips around 1.2675 with SL around 1.2620 for the TP of 1.2800/1.2825.

Resistance
 

R1-1.2760
 

R2 – 1.2800
 

R3-1.2830

Support               
 

S1-1.2675
 

S2-1.2630
 

S3- 1.2575

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2018-06-19 15:32:35
0m
2018-06-19 15:31:52
0m

June 19 12:55 UTC Released

USRedbook YY

Actual

4.7 %

Forecast

Previous

4.3 %

June 19 00:00 UTC Released

NZMilk Auctions

Actual

3481 0

Forecast

Previous

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 212926212926m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 212926212926m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 201106201106m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.