USD/CAD Outlook (21 May 2021)

U.S. Dollar/Canadian DollarFXCM

Description

⋅ May 21, 2021 1:32 AM

Overall, USD/CAD is trending downwards. Recently, USD/CAD rejected the resistance zone of 1.21000.

The Canadian retail sales m/m data will be released later at 2030 (SGT).

Core Retail Sales m/m (Forecast: 2.3%, Previous: 4.8%)
Retail Sales m/m (Forecast: 2.3%, Previous: 4.8%)

USD/CAD’s next support zone is at 1.19000 and the next resistance zone is at 1.21000.
Look for selling opportunities of USD/CAD.

Comments

timeforclass1999

⋅ May 21, 2021 1:31 PM

Hi Jin. I have been following you for a few weeks now and see that your forecasts coincide with what is occurring in the market. Great job. Thank you for your efforts. All the best.