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[QUOTE="Antony_NPBFX, post: 160587, member: 38727"] [size=5][b]USD/CAD: the pair is trading ambiguously 01.03.2019[/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url] offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading. [B]Current trend[/B] Yesterday, USD rose against CAD but failed to consolidate at the occupied positions and lost almost all the advantage by the time of the closing of the daily session. American macroeconomic statistics, published on Thursday, did not significantly support USD. According to preliminary estimates, the 2018 Q4 GDP rose by 2.6% YoY after rising by 3.4% YoY in the third quarter. Despite a significant slowdown in economic growth, the published figure was still much better than the forecasts, suggested a rise of +2.3% YoY. However, Canadian data was not better, reflecting the growth of the 2018 Q4 payments deficit balance from 10.11 billion to 15.4 billion CAD. Today, investors are focused on US statistics on personal incomes and expenditures in December, as well as the February data block on business activity. In Canada, the 2018 Q4 annual GDP data and Manufacturing PMI will be released. [B]Support and resistance[/B] On the daily chart, Bollinger bands moderately reduced. The price range narrows, reflecting the ambiguous trading nature in the short term. MACD grows, keeping a poor buy signal (the histogram is above the signal line). Stochastic reversed horizontally after a short growth at the beginning of the week. The current indicators’ readings remain controversial. It is better to wait until the situation is clear. Resistance levels: 1.3200, 1.3241, 1.3284, 1.3327. Support levels: 1.3149, 1.3100, 1.3067, 1.3000. [img]http://businesspr-finance.com/wp-content/uploads/2019/03/usdcad01032019-55.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2019/03/usdcad01032019-66.png[/img] [b]Trading tips[/b] Long positions can be opened after the breakout of 1.3200 with the target at 1.3284. Stop loss is 1.3160. Short positions can be opened after the breakdown of 1.3149 with the target at 1.3067 or 1.3040. Stop loss is no further than 1.3200. Implementation period: 2–3 days. [b]Use more opportunities of the NPBFX analytical portal: E-book[/b] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CAD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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