Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Advertisements
Advertisements
NPBFX - making money with us since 1996!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Antony_NPBFX, post: 195592, member: 38727"] [size=5][b]USD/CAD: downtrend persists 21.05.2021 [/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] The USD/CAD pair is demonstrating a downward trend, trading at the level of 1.2073, despite the negative outlook on the financial system from the Bank of Canada. In the submitted report, the regulator highlighted the increased vulnerability of households that took out mortgage loans that do not correspond to their real income. Among the main threats to financial stability, there is a problem of increased demand for liquidity in the bond market, which banks are unable to provide in the current period of increased load. Summarizing the report, Governor of the Bank of Canada Tiff Macklem assured that in this difficult period the department would react to all current and new risks, so there are no serious concerns for the state of the economy. Yesterday, the American currency did not show clear dynamics, as investors reacted differently to the incoming macroeconomic information. On the one hand, USD was supported by the decrease in Initial Jobless Claims, which amounted to 444K, which is lower than the projected 450K. On the other hand, the manufacturing activity index for May fell very sharply to 31.5 points from 50.2 points for April. [b] Support and resistance [/b] Locally, the price is forming a downtrend. Technical indicators keep the global sell signal: fast EMAs on the Alligator indicator are below the signal one, and the AO oscillator histogram is trading in the sell zone. Resistance levels: 1.2133, 1.2317. Support levels: 1.2022, 1.1900. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/USDCAD210521-11.png[/img] [b] Trading tips [/b] After decline or consolidation below the local support of 1.2022, sell positions with the target at 1.1900 are relevant. Stop loss – 1.2080. Implementation period: 7 days or more. After reversal and growth or consolidation above the local resistance level of 1.2133, buy positions with the target at 1.2317 will be relevant. Stop loss – 1.2070. [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]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…