NEWS: USDCAD price increased 0.3% after Canada reported lower than expected CPI.
Possible Scenarios:
If USDCAD fails to breach through R2 of 1.36103, our Research Department expects the USDCAD to undergo a short- term downward correction.
If USDCAD manages to break above its R2 of 1.36103, our Research Department expects the USDCAD to extend its gains to its R3 of 1.36254.
Support and Resistance Levels:
USDCAD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.35246 |
1.35397 |
1.35548 |
1.35750 |
1.35952 |
1.36103 |
1.36254 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $73.48 |
(+/-) €67.7 |
(+/-) £57.85 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.08535
***GBP/USD = 1.27026
Calculations for exchange rate used as of Tuesday, March 19, 2024, 12:45 GMT