News for trading Today we have high-impact news. The high-impact news involving various currencies. We have some low and medium-impact news as well. There will be much volatility in that area and with any pair related to the currencies seen below. Traders should take note of this and make good use of money management skills while trading today. Learn to trade with caution. This is very important in trading the forex market. Take a look at the picture below for more information on the news available to us today.
USDCAD ANALYSIS Yesterday, the USDCAD pair traded in the upward areas and closed the day around 1.4315. Today, it has moved in the downward direction towards 1.4260 price level. Taking a look at the hourly chart below, it is noticeable that USDCAD is trading below the moving average line MA (200) H1 at 1.4315. We have a similar situation on the four-hour chart as USDCAD is also trading above the moving average line MA (200) H4 for now. On this note, considering the facts above, traders are advised to look for a good sell entry point after the correction. The picture and chart below give better information on this analysis. Kindly take a look at the news available to us today.
The resistance levels are 1.4315, 1.4330, and 1.4370. The support levels are 1.4235, 1.4205, and 1.4185. What to expect: we could see a decline in the price of USDCAD towards the next support level at 1.4235. Alternatively, we could see a rise above the moving average line MA (200) H4 towards 1.4400. That is all for now. What do you think about this analysis? Kindly leave me your thoughts and contributions in the comments section below. Have a great day.
