The US Dollar continued to be volatile against major currency. The currency is fluctuating based on the fundamental event happening in Davos. Technical indicator is trying relatively high to stop the movement of the currency.
By the middle Friday’s trading session, there was a spike in the USD/CAD pair because of US president speech in Davos. The combination of the 55—hour, 100—hour and 200—hour SMAs is proving resistance near the 1.2386 mark.
Regarding the short- term future, its is likely the fundamental events will drives the currency to be more volatile and is advice to stand aside and watch the movement.
By the middle Friday’s trading session, there was a spike in the USD/CAD pair because of US president speech in Davos. The combination of the 55—hour, 100—hour and 200—hour SMAs is proving resistance near the 1.2386 mark.
Regarding the short- term future, its is likely the fundamental events will drives the currency to be more volatile and is advice to stand aside and watch the movement.
Comment:
The US Dollar continues its neat journey in the ascending channel against the Canadian Dollar. By the close of the US trading session on Monday, the pair had breached the weekly R2 at 1.2559.
The pair is moving upwards to test the upper boundary of the junior channel. The 55-, 100-, and the 200-hour SMAs indicate that the rally is likely to continue until it breaches the weekly pivot point at 1.2681.
In regard to the near future, bulls are likely to continue their dominance over this currency exchange rate until it books a new high at the monthly R2 at 1.2725.
The pair is moving upwards to test the upper boundary of the junior channel. The 55-, 100-, and the 200-hour SMAs indicate that the rally is likely to continue until it breaches the weekly pivot point at 1.2681.
In regard to the near future, bulls are likely to continue their dominance over this currency exchange rate until it books a new high at the monthly R2 at 1.2725.
Comment:
The US Dollar has breached the lower boundary of the previously-active junior channel against the Canadian Dollar. However, the currency pair was not trading below the Monday’s trading session’s levels.
During the middle of the European trading session, the Buck broke the resistance of the 55– and the 100—hour SMAs which were located near the 1.2580 mark.
Given that the currency exchange rate has broken the previously-drawn pattern, the pair could be heading for a decline.
During the middle of the European trading session, the Buck broke the resistance of the 55– and the 100—hour SMAs which were located near the 1.2580 mark.
Given that the currency exchange rate has broken the previously-drawn pattern, the pair could be heading for a decline.
The weekly PP at 1.2365 is pushing the currency exchange rate further down and the bear continues to be growing stronger.
Furthermore, the US Dollar is likely to continue trading south because of the fundamental events in the US. The US Congress fighting to pass the long-term budget, Donald Trump's diplomacy and the immigration plan.