Zostať 
Podmienky obchodovania
Nástroje
Early in the American session, the Canadian dollar (USD/CAD) is showing signs of a technical bounce, and is trading above 5/8 Murray and below 21 SMA.
Having reached the psychological level of 1.30 on May 11, the loonie started a strong technical correction and is likely to find support around the 200 EMA located at 1.2784.
Investors believe that the Fed will continue with its interest rate increases at a pace of at least 0.50% in its next meetings. The markets have already priced in this scenario and the US dollar is likely to make a technical correction in the coming days which could set the stage for the strengthening of the Canadian dollar.
The short-term trend for the USD/CAD pair is bearish. However, we can expect a technical bounce so that the pair could reach the 21 SMA or 6/8 Murray around 1.2937.
The bottom line would be to wait for the USSD/CAD pair to decline to 1.2939. So, we could sell with targets at 1.2817 and the 200 EMA at 1.2784.
Additionally, a sharp break and a daily chart close below 1.2784 will mean that the Canadian dollar has entered a bearish phase and any momentum will be seen as an opportunity to sell with short-term targets at 1.2500.
Our trading plan for the next few hours is to buy the Canadian dollar above 1.2817 or in the event of a technical bounce around 1.2784 (200 EMA) with targets at 1.2890 and 1.2939 (21 SMA).
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
