NEWS: USDCAD price increased 0.5% as an inflation measure came in higher than expected in Canada and Crude Oil was down.
Possible Scenarios:
If USDCAD fails to breach through R2 of 1.37449, our Research Department expects the USDCAD to undergo a short- term downward correction.
If USDCAD manages to break above its R2 of 1.37449, our Research Department expects the USDCAD to extend its gains to its R3 of 1.37641.
Support and Resistance Levels:
USDCAD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.36359 |
1.36551 |
1.36744 |
1.37000 |
1.37256 |
1.37449 |
1.37641 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $72.83 |
(+/-) €68.03 |
(+/-) £58.14 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07052
***GBP/USD = 1.25257
Calculations for exchange rate used as of Tuesday, April 30, 2024, 14:12 GMT+1