USD/CAD has added nearly 0.20% so far at the time of reporting, underpinned by a series of data reports. Bank of Canada will be reporting the core consumer price index data for September month along with the CPI data from Statistics Canada. The Core CPI is expected to decline a bit as per the market census. Watch out for these events as these economic indicators help to analyze the health of the Canadian economy and the potential rate hike outlook from the Bank of Canada. The Momentum oscillators are in oversold territory on the daily chart, so a sharp rise will not be a surprise on favorable reports.
Important pivots to consider in daily timeframe
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 1.3501 | 1.3579 | 1.3653 | 1.3731 | 1.3805 | 1.3883 | 1.3957 |
| Fibonacci | 1.3579 | 1.3637 | 1.3673 | 1.3731 | 1.3789 | 1.3825 | 1.3883 |
| Camarilla | 1.3686 | 1.3700 | 1.3714 | 1.3731 | 1.3741 | 1.3755 | 1.3769 |
| Woodie’s | 1.3501 | 1.3579 | 1.3653 | 1.3731 | 1.3805 | 1.3883 | 1.3957 |
| DeMark’s | – | – | 1.3693 | 1.3751 | 1.3845 | – | – |
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.
