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[QUOTE="Mikhail Kurakin, post: 196083, member: 2368"] USD/CAD: the instrument shows an upward trend Current trend Today, during the Asian session, the USD/CAD pair is showing an upward trend, developing a strong "bullish" momentum, formed yesterday, when the encouraging May ADP report on US private sector employment came out to the market. The statistics reflected an increase of 978K jobs, which was significantly better than market expectations of 650K. The data for the last month were revised downward from the previous 742K to 654K. On Friday, traders expect the publication of the final report on the US labor market for May, as well as a speech by the head of the US Federal Reserve Jerome Powell. It is worth noting that the official will speak before the publication of the Ministry of Labor, and therefore one should not expect a quick response from the regulator. Canada will also show its report on the labor market today but analysts' expectations here are much more modest. It is assumed that the unemployment rate for May will rise from 8.1% to 8.2%, while the change in the number of employees will remain in the red zone at -20K. Support and resistance On the daily chart, Bollinger bands are moving flat. The price range widens slightly from above, hindering a more confident uptrend in the short term. The MACD indicator is growing, maintaining a strong buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics but that the indicator line is approaching its highs rather quickly. Resistance levels: 1.2143, 1.2200, 1.2245, 1.2300. Support levels: 1.2060, 1.2000, 1.1930. [img]https://media.clawshorns.com/uploads/files/126c5fc025b46c1b0e8abd824771a8c7.png[/img] [img]https://media.clawshorns.com/uploads/files/229beab8e3a51e4bc58e13b8b52e5bf0.png[/img] [/QUOTE]
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