Forecast:
- According to the previous events, the USD/CAD pair has still been trapped between 1.1070 and 1.0960.
- Strong resistance will be formed at the level of 1.1120 providing a clear signal for sell deals with the target seen at 1.9010.
- Stop-loss is to be placed above 1.1160.
- Strong level (support) will be formed at the level of 1.0910 providing a clear signal for buy deals with the target seen at the 1.1070 level.
- Stop-loss is to be placed below the level of 1.0858. This level is representing the double bottom in the H1 chart.
Notes:
- The double top will be set at the level of 1.1068.
- We expect a range of 54 pips today.
- But it should be noted that the risk of 54 4 pips must make a profit of 81 pips.
- Volatility: 85.81. Therefore, the market indicates the lower volatility.
- The value of 50% Fibonacci retracement levels is 1.1070 (for confirming for the bullish market).
