empty
 
 
17.05.2017 01:00 PM
Fundamental analysis of USD/CAD for May 17, 2017

USD/CAD retraced towards 1.3600 after a surge towards 1.3800. The greenback is stronger than the loonie on the back of some positive economic reports. Today we have the manufacturing sales report from Canada which is expected to be positive at 1.1% versus the previous reading of -0.2%. At the same time, the United States will present the crude oil inventories report which is expected to be at -2.5M versus the previous -5.2M. The economic events of CAD and USD is expected to bring in good amount of volatility due to the high impact intensity. A daily close today will lead to a certain direction in this pair where USD has an upper hand over CAD.

Now let us look at the technical view. The price is currently residing above the event level of 1.3600 and seems to be correcting itself ahead of CAD and USD high impact news today. Currently we are in bullish bias as the price is above 1.3600 and looking forward for the price to climb towards 1.3800-1.4000 resistance area. On the other hand, if the price closes below 1.3600, then we will be looking forward to sell with a target towards 1.3260 support level. A daily close today will determine the upwards move in this pair.

This image is no longer relevant

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $9000 lebih banyak!
    Pada Mei kami mengundi $9000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback