NEWS: USDCAD price is rising 0.8%. The currency pair went up under the influence of a strengthening USD and despite the better than expected GDP results in Canada.
Possible Scenarios:
if USDCAD fails to breach through R1 of 1.35856, our Research Department expects the USDCAD to undergo a short- term downward correction.
If USDCAD manages to break above its R1 of 1.35856, our Research Department expects the USDCAD to extend its gains to its R2 of 1.36108.
Support and Resistance Levels:
USDCAD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.34680 |
1.34932 |
1.35184 |
1.35520 |
1.35856 |
1.36108 |
1.36360 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $0.95 |
(+/-) €0.92 |
(+/-) £0.79 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.03397
***GBP/USD = 1.19962
Calculations for exchange rate used as of 14:15 (GMT) 29/11/2022