As we famous in right this moment’s “Elementary Evaluation“, “given the sturdy upward momentum, it’s logical to imagine additional progress.” USD/CAD is within the bull market zone, above the important thing assist ranges 1.2865, 1.2835. The breakdown of the native resistance degree 1.3343 will likely be a confirming sign of our assumption. In another situation (for extra particulars, see “USD/CAD: technical evaluation and buying and selling suggestions for 09/20/2022“) and after the breakdown of the native 1.3227 and short-term 1.3183 assist ranges, the downward correction could proceed as much as the assist ranges 1.3056, 1.3020. A deeper decline is unlikely.
The driving force of right this moment’s actions within the USD/CAD pair often is the publication at (12:30 GMT) of client value indices in Canada (for extra particulars, see the Main financial occasions of the week 09/19/2022 – 09/25/2022).
Assist ranges: 1.3227, 1.3183, 1.3070, 1.3056, 1.3020, 1.2960, 1.2885, 1.2865, 1.2835, 1.2740
Resistance ranges: 1.3300, 1.3343
• sign -> Insta79 -> https://www.mql5.com/en/indicators/1617289
• see additionally “Technical evaluation and buying and selling suggestions” -> https://t.me/fxrealtrading
