FOMC Minutes yesterday provided fuel for the rally of USDCAD.
Some traders negatively still lean to SELL side, but I think the trend reversed two weeks ago with the break of long term descending trend line.
1.300 is a strong resistance and Kumo cloud also weight on price action.
But today USDCAD officially breaks 1.300 and enters Kumo cloud.
A move above Kumo cloud will mark for a new life of USDCAD after severe sell-off.
Tomorrow, the central focus is Canada CPI.
If it's positive, I think USDCAD will bounce back.
Otherwise, the rally will extend to 1.3300 even 1.3400
SMA100 is at 1.3400, and a minor resistance is 1.3300
In my opinion,I choose negative data, and 1.3300 for USDCAD tomorrow.
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Some traders negatively still lean to SELL side, but I think the trend reversed two weeks ago with the break of long term descending trend line.
1.300 is a strong resistance and Kumo cloud also weight on price action.
But today USDCAD officially breaks 1.300 and enters Kumo cloud.
A move above Kumo cloud will mark for a new life of USDCAD after severe sell-off.
Tomorrow, the central focus is Canada CPI.
If it's positive, I think USDCAD will bounce back.
Otherwise, the rally will extend to 1.3300 even 1.3400
SMA100 is at 1.3400, and a minor resistance is 1.3300
In my opinion,I choose negative data, and 1.3300 for USDCAD tomorrow.
----------------------------------------------
www.facebook.com/trackingforexsignals
twitter.com/SforexSolution
www.trackingforexsignals.com/
admin@trackingforexsignals.com