Technical analysis of USD/CAD for January 11, 2019 888011000 110888 Overview: The USD/CAD set has actually dropped greatly from the level of 1.3419 towards 1.3181. Now, the rate is set at 1.3297 and serves as a day-to-day pivot point. It should be kept in mind that volatility is extremely high, so the USD/CAD pair will continue to move in between 1.3297 and 1.3181 in the coming hours. The rate has been set listed below the strong resistance at the levels of 1.3297 and 1.3419, which corresponds with the 23.6% and 50%Fibonacci retracement level, respectively. Additionally, the cost remains in a bearish channel now. Amid the previous occasions, the set is still in a downtrend. From this point, the USD/CAD set continues to move in the bearish trend from the brand-new resistance of 1.3297. Thereupon, the rate spot of 1.3297 remains to be a significant resistance zone. Therefore, a possibility that the USD/CAD set will have downside momentum is rather persuading and the structure of a fall does not look restorative. In order to indicate a bearish chance below 1.3297,offer below 1.3297 with the first targets at 1.3181 and 1.3066. Nevertheless, a stop loss order need to lie above the level of 1.3419. The material has actually been offered by InstaForex Business- www.instaforex.com

By | January 11, 2019

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