Trading recommendations:
According to the previous events, the USD/CAD pair is still moving between 1.1025 and 1.0950. Sell below the price of 1.6026 which represents the ratio of 61.8% Fibonacci retracement levels with the first target at 1.0983. Then, it will go towards 1.0950 in order to test this strong support (50% Fibonacci retracement levels). Buy above the price of 1.0950 (if the trend fails to close below it) with a target at 1.1026, then at the price of 1.1118 in order to test the strong resistance.Notes:
Please, check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated. The key level is set at 1.0950. We expect a range of 75 pips in coming hours. History will probably repeat itself at this level again.Intraday technical levels:
R3: 1.1080 R2: 1.1055 R1: 1.1018 PP: 1.0993 S1: 1.0956 S2: 1.0931 S3: 1.0894