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Trending
SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6858.48
6858.48
6858.48
6894.88
6824.32
+12.98
+ 0.19%
--
DJI
Dow Jones Industrial Average
48382.38
48382.38
48382.38
48404.06
47853.04
+319.10
+ 0.66%
--
IXIC
NASDAQ Composite Index
23235.62
23235.62
23235.62
23585.96
23119.49
-6.37
-0.03%
--
USDX
US Dollar Index
98.140
98.220
98.140
98.190
97.830
+0.190
+ 0.19%
--
EURUSD
Euro / US Dollar
1.17195
1.17217
1.17195
1.17647
1.17131
-0.00258
-0.22%
--
GBPUSD
Pound Sterling / US Dollar
1.34498
1.34671
1.34498
1.35016
1.34339
-0.00223
-0.17%
--
XAUUSD
Gold / US Dollar
4332.37
4332.37
4332.37
4402.23
4309.78
+12.76
+ 0.30%
--
WTI
Light Sweet Crude Oil
57.205
57.234
57.205
57.790
56.489
-0.234
-0.41%
--
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3226293 
hey guys
RPGFX 
RPGFX
RPGFX
RPGFX
Nawhdir. Øt 
RPGFX
RPGFX
Nawhdir. Øt
@Nawhdir. ØtYou want to conduct another test just like that of yesterday?
Daniel Beminboy
Nawhdir. Øt
Nawhdir. Øt
Hopefully it can be as precise as yesterday@RPGFX
Nawhdir. Øt
RPGFX
RPGFX
Nawhdir. Øt
But you know, Saturday and Sunday have minimal spikes. Who knows, maybe my sell limit will be triggered on Sunday 🤣
RPGFX
RPGFX
Nawhdir. Øt
@Nawhdir. ØtYeah, I still remember this screenshot from yesterday
Nawhdir. Øt
RPGFX
RPGFX
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
Bearish Trend Remains Intact
Summary:
Bank of Canada Governor Tiff Macklem stated on Tuesday that further rate cuts are reasonable to expect considering the sustained progress in lowering inflation to the 2% target.
CLOSED
1.35350
Entry Price
1.32200
TP
1.36500
SL
1.37287 +0.00046 +0.03%
115.0
Pips
Loss
1.32200
TP
1.36500
Exit Price
1.35350
Entry Price
1.36500
SL
Fundamentals
After a strong rebound on Wednesday, USDCAD slightly declined to around 1.3465 during the European session on Thursday. The US dollar struggled to maintain its upward momentum, which has led to moderate selling pressure on the Canadian dollar, with the US dollar facing resistance around 101.00.
On Tuesday, Bank of Canada Governor Tiff Macklem confirmed that the central bank has achieved some of its key goals. "With the continued progress we've seen on inflation, it is reasonable to expect further cuts in our policy rate," he stated. "The timing and pace will be determined by incoming data and our assessment of what those data mean for future inflation." He reiterated that the central bank aims for faster economic growth to absorb the economy's slack.
This marked a shift in tone from Macklem, who previously suggested that further rate cuts were possible if progress continued in fighting inflation.
Technical Analysis
USDCAD weakened after breaking below the August 28 low at 1.3440, reaching a new low of 1.3400 in the daily chart, the lowest since early March to indicate a firm bearish trend. Additionally, bulls faced resistance near the 20-day SMA at 1.3545, which signals more downside potential.
The RSI shifted from a 40.00-80.00 range to a 20.00-60.00 range, suggesting that any rebound should be viewed as a selling opportunity.
Looking ahead, if USDCAD falls further below the recent support level at 1.3400, it could drop toward the January 31 low at 1.3360 and the June 9 low at 1.3340.
In the bigger picture, the corrective pattern that began from the 2022 high of 1.3976 is extending with another falling leg. While deeper declines are possible, strong support is expected above the 1.2947 resistance-turned-support level to bring a rebound. The overall uptrend from the 2021 low at 1.2005 is still in favor of resuming at a later stage.
Trading Recommendations
Trading Direction: Sell
Entry Price: 1.3535
Target Price: 1.3220
Stop Loss: 1.3650
Valid Until: Oct 11, 2024 23:55:00
Support: 1.3505, 1.3466, 1.3437
Resistance: 1.3590, 1.3646, 1.3729
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