The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The Canadian dollar is strengthening, and USD/CAD is declining ahead of the Bank of Canada's interest rate decision to be published at 14:45 (GMT) today. If today's statements by the Bank of Canada's leaders are interpreted by the market as dovish, then we should expect a resumption of growth in the USD/CAD pair.
A breakout of resistance levels at 1.3485 (200 EMA on the daily chart) and 1.3505 (144 EMA on the daily chart) will move USD/CAD into the zone of a medium-term bullish market and resume the upward trend in the context of a long-term bullish market. The first signal for the realization of this scenario could be a breakout of resistance levels at 1.3450 (200 EMA on the 1-hour chart) and 1.3465 (50 EMA on the daily chart).
In an alternative scenario, the price will break the important short-term support level at 1.3441 (200 EMA on the 4-hour chart) and continue its decline towards the key support level at 1.3185 (200 EMA on the weekly chart), separating the long-term bullish market from the bearish one. Its breakdown, in turn, will return USD/CAD to the zone of a long-term bearish market, making long-term short positions preferable.
Support levels: 1.3441, 1.3400, 1.3300, 1.3260, 1.3200, 1.3185
Resistance levels: 1.3450, 1.3453, 1.3465, 1.3485, 1.3505, 1.3540, 1.3600, 1.3615, 1.3700, 1.3775, 1.3800, 1.3860, 1.3890, 1.3900, 1.3970, 1.4000
Trading Scenarios
Alternative scenario: Sell Stop 1.3430. Stop-Loss 1.3470. Targets 1.3400, 1.3300, 1.3260, 1.3200, 1.3185
Main scenario: Buy Stop 1.3470. Stop-Loss 1.3430. Targets 1.3485, 1.3505, 1.3540, 1.3600, 1.3615, 1.3700, 1.3775, 1.3800, 1.3860, 1.3890, 1.3900, 1.3970, 1.4000
"Targets" correspond to support/resistance levels. This also does not mean that they will necessarily be reached, but they can serve as a guideline in planning and placing your trading positions.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
