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[QUOTE="Antony_NPBFX, post: 184402, member: 38727"] [size=5][b]USD/CAD: the instrument is consolidating 17.08.2020 [/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] During the morning session, the USD/CAD pair shows flat dynamics, consolidating near the local lows of January 2020. At the end of last week, USD rose after the publication of positive macroeconomic statistics but the “bullish” momentum quickly lost its strength. Retail sales rose by 1.2% MoM for July after rising by 8.4% MoM for June. Analysts had expected the value to rise by 1.9% MoM. At the same time, the indicator of the "retail control group" for the same period increased by 1.4% MoM, which was much better than the forecasts of +0.8% MoM. Canada has pleased investors with an increase in the volume of industrial orders. In June, the index rose by 20.7% MoM after rising by 11.6% MoM in the previous month. Analysts expected the volume to grow by only 16.4% MoM. [b] Support and resistance [/b] On the daily chart, Bollinger bands smoothly reverse into a horizontal plane. The price range is expanding from below, letting the “bears” renew local lows. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic is showing a similar trend, reversing upwards near the level of 20. The indicator readings signal in favor of the development of the upward trend in the ultra-short term. The development of corrective growth is possible in the short and/or super short term. Resistance levels: 1.3250, 1.3300, 1.3350, 1.3400. Support levels: 1.3200, 1.3150, 1.3100. [img]http://businesspr-finance.com/wp-content/uploads/2020/08/usdcad17082020-55.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/08/usdcad17082020-66.png[/img] [b] Trading tips [/b] Long positions may be opened after the breakout of 1.3300 with the target at 1.3400. Stop loss – 1.3250. Short positions may be opened after the breakdown of 1.3200 with the target at 1.3100. Stop loss – 1.3250. Implementation period: 2–3 days. [b]Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast[/b] You can learn more about the current situation on USD/CAD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast 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.com]NPBFX[/url]. [/QUOTE]
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