USD/CAD being traded in a long flat

17 December, 2018

  • Prev Open: 1.33452
  • Open: 1.33811
  • % chg. over the last day: +0.24
  • Day's range: 1.33733 – 1.33882
  • 52 wk range: 1.2248 – 1.3445

USD/CAD keeps being traded in a long flat. There is no singular trend. The key support and resistance levels are 1.33600 and 1.34000. Investors are waiting for additional drivers. Keep an eye on the oil quotes dynamics. Positions should be opened from the key levels.

The Economic News Feed for 17.12.2018 is calm.

There are no precise signals: 50 MA has crossed 200 MA.

MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no precise signals.

Trading recommendations
  • Support levels: 1.33600, 1.33250, 1.32900
  • Resistance levels: 1.34000, 1.34450

If the price closes above 1.34000, expect the USD/CAD quotes to grow toward 1.34300-1.34500.

Alternatively, the price fixed below 1.33600 and you should look for the market entry points to open short positions. The movement will tend toward 1.33250-1.33000.


Source   Presented by JustForex
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