By - Jamel Lahiani
Today our analysis will be concerned with:
The USDCAD is a very popular currency pair and represent the exchange rate of the tow neighbor money, the U.S. and Canada.
FOREX Market Insights
Yesterday, Wall Street has ended mixed; a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary easing. The impact of rate cat is to be followed.
Today in Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 12H30 GMT:
The Retail Sales ex Auto released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes except the automobile sector.
The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes.
GRAPHIC 1: USDCAD HOURLY CHART (SEPTEMBER 20, 2019)
Yesterday, the USDCAD followed a ranging movement inside the colored channel. The USDCAD
return to stability after a period of volatility resulted from oil prices jumps. It is interesting to sell
when the pair is close to the top of the channel and buy when the pair is close to the bottom. It is
also interesting to sell, when the Stock RSI indicator is higher than 80 and to buy when this indicator
is lower than 20 and the red line cross the blue line.
If the chart breaks the colored channel and close outside, then a new trend could be more plausible
and we have just to follow the trend.
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