After the decline at the beginning of the month, USD / CAD was able to grow again to the area above the key level 1.3245 (EMA200 on the daily chart), reaching a local maximum last Tuesday near 1.3300 mark.
The US dollar returns its previously lost positions and is in demand on the eve of the Fed meeting, and the pair USD / CAD resumed growth, maintaining a long-term positive trend. Above the support level of 1.3245, long positions are preferred.
In the event of a breakdown of the local resistance level of 1.3345 (August highs) USD / CAD will go towards the local resistance levels 1.3435, 1.3452 (Fibonacci level 23.6% of the downward correction to the pair's growth in the global uptrend since September 2012 and the level of 0.9700), 1.3465, 1.3520, 1.3560 (highs of the year).
In an alternative scenario, the signal for the resumption of short positions will be a breakdown of the short-term support level 1.3233 (ЕМА200 on the 1-hour chart).
The objectives of the decline are support levels 1.3182, 1.3138 (September lows and the lower border of the downward channel on the daily chart).
The breakdown of these levels will trigger a further decrease in the medium-term bearish trend with targets at support levels 1.3020, 1.2880 (ЕМА200 on the weekly chart).
Support Levels: 1.3258, 1.3245, 1.3238, 1.3233, 1.3182, 1.3138, 1.3020, 1.2975, 1.2880
Resistance Levels: 1.3300, 1.3345, 1.3435, 1.3452, 1.3465, 1.3520, 1.3560, 1.3600, 1.3660
Sell Stop 1.3230. Stop-Loss 1.3310. Take-Profit 1.3182, 1.3138, 1.3020, 1.2975, 1.2880
Buy in the market. Stop-Loss 1.3230. Take-Profit 1.3300, 1.3345, 1.3435, 1.3452, 1.3465, 1.3520, 1.3560
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