Await clear trading signal

FX:USDCAD   U.S. Dollar / Canadian Dollar
The market is silent before FOME's meeting and Powell's speech. Although the price of crude oil is continuously climbing, the market is growing the concerns about Canadian's economy. Growth slowed but business and public spending remained positive. However, there continued to be considerable uncertainty around consumption outlook, given fall in house prices. Canadian economy is as weak as Australia encumbered by risky real estate, which indicates tightening monetary policy will be over soon.

On the technical aspect, the pair is supported by the up-trend line, suppressed by the strong resistance at 1.3365. Keep patience to await the clear trading signal: If it succeeded to break out 1.3365, the rebound from 1.3287 is confirmed. Then, it'll test 1.3400. Further rise should be seen to 78.6% retracement of 1.3287 to 1.3465 at 1.3430. On the down side, though, break of 1.1.3330 will turn focus back to 1.3300 and 1.3240 support instead.

The target is 1.3430.
Turning point: 1.3365.
Above 1.3365, bullish , target price is 1.3400,then 1.3430.
Under 1.3365, bearish , target price is set at 1.3300, then 1.3240.

If you like the strategy, please click "AGREE" and follow me. Your trust is my biggest motivation.

Prior Strategy:


Is it clear now?
minyangshi9409 LynnElizabth
@LynnElizabth, yes, broke out the support line.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out