USDCAD → NFP may strengthen the currency pair
Updated
USDCAD is forming a local resistance level at 1.3364 and pre-breakdown consolidation before the news. There is a chance that price could consolidate.On D1 we see the formation of a global sideways range. Hence, we are using a range trading strategy in the global perspective. A false break of support forms a signal that price is now heading upwards.
Yesterday, the
DXY received fundamentally positive data that could strengthen the price, and also this data (Initial Jobless Claims, ADP NonFarm EC) is a prerequisite that today's Nonfarm Payrolls will also be bullish for the dollar. In this case, the currency pair may break the nearest resistance at 1.3364 and continue its growth.
Support levels: 1.3315
Resistance levels: 1.3364, 1.3487
There is an empty space up to the target, therefore, if the nearest resistance is broken, the price will easily and quickly reach 1.3487
Regards R. Linda!
Note
Note
NonFarm Payrolls 216K instead of the 170K expectedThe dollar is rising strongly!
The Canadian is falling!
Currency pair rises
Note
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.