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[QUOTE="Antony_NPBFX, post: 181612, member: 38727"] [size=5][b] USD/CAD: instrument consolidates 29.05.2020 [/b][/size] Good afternoon, dear forum visitors! [url= https://www.tb.marketinstructor.com/?referer1=earnforex.com] 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] Today, during the Asian session, the USD/CAD pair shows ambiguous dynamics, being near local lows since mid-March, renewed on Wednesday. Pressure on the US dollar has a poor macroeconomic statistics from the United States, published yesterday. In particular, investors were extremely negative about the review of the annual dynamics of US GDP for the first quarter of this year. According to renewed data, the US economy fell by 5% YoY against the previous estimate of 4.8% YoY. On Friday, traders are waiting for the publication of information on the dynamics of personal income and expenses of US citizens. Also, closer to the end of the American trading session, a press conference by US President Donald Trump will be held. In Canada, data on the country's GDP for the first quarter of this year will be released. According to the most negative forecasts, the Canadian economy may decline by 10% QoQ. [b] Support and resistance [/b] On the daily chart, Bollinger bands moderately reduce. The price range expands from below, expanding the space for the development of the “bearish” dynamics. The MACD indicator goes down, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic, approaching the zero line, reversed into a horizontal plane, signaling for the development of corrective growth in the ultra-short term. The appearance of correctional dynamics is possible in the short and/or ultra-short term. Resistance levels: 1.3800, 1.3849, 1.3900, 1.3950. Support levels: 1.3740, 1.3700, 1.3650, 1.3600. [img]http://businesspr-finance.com/wp-content/uploads/2020/05/cad-3-1.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/05/cad-4-1.png[/img] [b] Trading tips [/b] Long positions may be opened after the breakout of 1.3800 with the target at 1.3900. Stop loss – 1.3740. Short positions may be opened after the breakdown of 1.3740 with the target at 1.3650. Stop loss – 1.3800. Implementation period: 2–3 days. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. 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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