Technical:
- The bullish total 3, formed on a daily chart with parameters of 70.7,113, 38.2 and 200 respectively.
- RSI is still under 50 level, likelihood of continue to go bear.
- The MACD still indicates bearish sentiment.
- Looks like S1 needs to be retested.
- Formation of 3rd drive is needed for suitable entry
Fundamentals:
- Today at 1:15pm GMT daylight, NF employment change, 1:30pm Prelim Unit Labor Costs q/q and Fed Chair Yellen Speaks at 2:15 will be announced on US dollar.
- The CAD at 3:00 pm Ivey PMI will be announced.
- I expect these news events to give another drive down to support 1.
- Likely of CAD to be stronger than USD today.
NB. As always your patience is needed to maximize profit. Stop loss in place as usual. If anything changes I will update.
Good luck and Happy trading :)
- The bullish total 3, formed on a daily chart with parameters of 70.7,113, 38.2 and 200 respectively.
- RSI is still under 50 level, likelihood of continue to go bear.
- The MACD still indicates bearish sentiment.
- Looks like S1 needs to be retested.
- Formation of 3rd drive is needed for suitable entry
Fundamentals:
- Today at 1:15pm GMT daylight, NF employment change, 1:30pm Prelim Unit Labor Costs q/q and Fed Chair Yellen Speaks at 2:15 will be announced on US dollar.
- The CAD at 3:00 pm Ivey PMI will be announced.
- I expect these news events to give another drive down to support 1.
- Likely of CAD to be stronger than USD today.
NB. As always your patience is needed to maximize profit. Stop loss in place as usual. If anything changes I will update.
Good luck and Happy trading :)
