Canadian Dollar trading risk rewards face junction at 1.20 and 1.30 price area stay in focus
Canadian Dollar Technical analysis price forecast update
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| usd cad forecast |
i start to analyze usdcad when is faced with the break point in 2013
a quick brief on the economic situation
After a short respite from monetary movements more could soon be on the way, at least one of them might bring some news and volatility
Governor Stephen Poloz and his monetary team, the issue is whether the Canadian economy can embrace another rate hike after the July ice-breaker – the first increase in seven years, If the Bank of Canada opts for an increase, likely in the range of 25-50 basis points, the Canadian benchmark interest rate would be at 1%
Canadian and U.S. economies are now far removed from where they stood in 2008 in the midst of a global financial crisis and the Great Recession. But monetary policy remains a work in progress for both countries – and timing is crucial for any stimulus withdrawal.
The Fed’s Sept. 19-20 gathering appears to have increased in importance, given the growing anticipation for the pull-back on QE.– and commencing in October – presuming there is no (U.S.) debt ceiling.
So far, the U.S. economy appears to be co-operating with that plan. Even so, there are two more opportunities for the Fed to make a move on this year’s calendar – during their Oct. 31-Nov.1 or Dec. 12-13 policy sessions.
Last post on the usd cad : Will Canadian Dollar recovers and start his journey up after 4 years
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| usd cad analysis |
Technical analysis outlook update:
If we look on the charts we can see that there is a major support in 1.30 price area (break already), if the usd cad will hold this levels it will probably continue up - not happened ,if not we should expect for more corrections to 1.19+_ price levels when the price will cross down 1.2310 price area
Usd/cad stays on the downside for the moment, a breakdown of the area of 1.2310 which will indicate the continuation of the pair’s decline with the potential target below the level of 1.19+_.
See the bands and crosses stretch during the years (red and white)
Usdcad approaching to junction – same happen at 2006 year
The only move above 1.30 price area will confirm for more up movements
From risk rewards side my suggestion is to test 1.19 for long position test with tight s/l if the price will be reached there
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| usd cad technical |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
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