Trading spotlight

Every day we analyse the market trends, select the most newsworthy asset, and prepare technical analysis on it—to help you reduce risks and get prepared.

USDCAD 3-dimensional review

What happened earlier

Today the Nonfarm Payrolls news is being released. We'll also be able to view the Unemployment Rate Report for Canada. Be ready to greater volatility for the USDCAD pair.

What the picture is now

The price is hovering above 1.33292, the first support level. The Bollinger Bands indicate an uptrend, which the RSI and the MACD are in agreement with, while the Stochastic shows a possible decline.

What the possible outcomes are

A correction to 1.33292 before an increase towards 1.34364, the first resistance level, may occur. If the price breaks this line, we may see an uptrend towards 1.34870, the second resistance level. Otherwise, a decline to 1.33292 and, if broken, a downtrend to 1.32310 may take place.

Trade USDCAD

Pay attention to EURAUD

What happened earlier

The price dropped to 1.63930, the first support level, before recovering.

What the picture is now

EURAUD consolidates above the first support level. The Bollinger Bands converge and demonstrate a tightening of the price. The MACD and the Stochastic indicate an uptrend, while the RSI is under 50 and also signals for an uptrend.

What the possible outcomes are

An uptrend towards 1.64706, the first resistance level, may occur. If the price breaks this line, a consolidation between 1.64706 and 1.65270, the second resistance level, is likely. Another possible option is a correction to 1.63930 before rebounding to 1.64706. If the price stays below the first support level, a decline to 1.63439 may take place.

Trade EURAUD

Please note! This is not a direct instruction on which order to open. When applying this information, you remain solely responsible for the decision you make and financial risks you take.