USD/CAD Technical Analysis , February 12 – 2019

The USD/CAD pair met with some new supply on Tuesday and dissolved a noteworthy piece of the medium-term uptick back more like fourteen day tops.

The pair proceeded with its battle to save/expand on its energy past the 1.3300 handle, with a blend of negative variables inciting some crisp long-loosening up amid the Asian session.

Following the ongoing rally to the most abnormal amount since December, the US Dollar saw some benefit taking and disregarded a finish pickup in the US Treasury security yields in the midst of odds of another US government shutdown.

This combined with a goodish bob in oil costs, which will in general support interest for the item connected money – Loonie, further teamed up towards topping increases, rather applying some new descending weight at larger amounts.

Then, intentional creation cuts, driven by the Organization of the Petroleum Exporting Countries (OPEC), combined with the US authorizes on Venezuela and Iran stayed steady of a somewhat positive tone around unrefined petroleum costs.

It would now premium check whether the pair can discover some purchasing enthusiasm at lower levels or keeps floating lower in the midst of missing significant market moving monetary discharges, but discourses by a few FOMC authorities, including the Fed Chair Jerome Powell, may deliver some important exchanging openings.

USD/CAD Technical Analysis , February 12

 BUY  USD/CAD@ 1.3297       SL:  1. 3277             TP1: 1.3312     TP2: 1.3327     TP3: 1.3342

 SELL  USD/CAD @ 1.3272    SL:  1.3292               TP1: 1.3257     TP2: 1.3242     TP3: 1.3227

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John Wat

About: John Wat

Forex analyst with 10 years experience in Forex market.Trading Expert ABC Breakouts, Trendlines breakouts, Supply & Demand, Customized Elliot Wave.