Home Analysis USD/CAD is looking for bullish continuation ahead of the CPI data

USD/CAD is looking for bullish continuation ahead of the CPI data

33
0
USDCAD is looking for bullish continuation ahead of the CPI data - forexspacex.com

The USD/CAD has extended its gains on Thursday morning in Asia ahead of the US CPI data report. According to analysts at the trade world market, The US core inflation is expected to slow down after the aggressive stance from the Federal Reserve. If the reading comes out lower than the previous month then we may see a correction in the dollar. Analyzing the hourly chart, the pair is trading with a neutral to a slightly bullish bias. The rate is trading above the 50-day exponential moving average and we can expect high volatility during the reporting hours.

Important pivots to consider in daily timeframe

NameS3S2S1Pivot PointsR1R2R3
Classic1.35021.35201.35351.35531.35681.35861.3601
Fibonacci1.35201.35331.35401.35531.35661.35731.3586
Camarilla1.35411.35441.35471.35531.35531.35561.3559
Woodie’s1.35001.35191.35331.35521.35661.35851.3599
DeMark’s1.35441.35581.3577 

Ref link


Disclaimer

Forex trading can be extremely risky and should only be done in the presence of an expert. We do not recommend any currency pairs or options to buy or sell to our readers. Forecasts or articles available on this website do not constitute investment advice and are only for general information. Kindly consult with a professional financial advisor before using the information on this website for trading or investing.

Previous articleAustralian dollar appears bearish
Next articleBritish pound gains on lower US CPI data

LEAVE A REPLY

Please enter your comment!
Please enter your name here