The USDCAD had been trending down for some time now and the resent economic data in favor of CAD today has put the pair further to the down side.
07:30 CAD Core CPI (MoM) (Mar) 0.7% 0.3% 0.5%
07:30 CAD Core CPI (YoY) (Mar) 2.1% 1.7% 1.9%
07:30 CAD Core Retail Sales (MoM) (Feb) 0.2% -0.5% 1.3%
07:30 CAD CPI (MoM) (Mar) 0.6% 0.6% 0.2%
07:30 CAD Retail Sales (MoM) (Feb) 0.4% -0.8% 2.0%
08:45 USD Manufacturing PMI (Apr) 50.8 52.0 51.5
Strategy:
-Price action has briefly enters the last support zone look to turn resistance "1".
-RSI broken the 50_line and is now making a retest. "2"
-SSD looks overbought a cross should signal a short entry. "3"
-Profit taking should be around the last support. "4"
07:30 CAD Core CPI (MoM) (Mar) 0.7% 0.3% 0.5%
07:30 CAD Core CPI (YoY) (Mar) 2.1% 1.7% 1.9%
07:30 CAD Core Retail Sales (MoM) (Feb) 0.2% -0.5% 1.3%
07:30 CAD CPI (MoM) (Mar) 0.6% 0.6% 0.2%
07:30 CAD Retail Sales (MoM) (Feb) 0.4% -0.8% 2.0%
08:45 USD Manufacturing PMI (Apr) 50.8 52.0 51.5
Strategy:
-Price action has briefly enters the last support zone look to turn resistance "1".
-RSI broken the 50_line and is now making a retest. "2"
-SSD looks overbought a cross should signal a short entry. "3"
-Profit taking should be around the last support. "4"