OctaFX | OctaFX Forex Broker
সাইন-ইন
অ্যাকাউন্ট খুলুন
Back

Forex: USD/CAD limited trading range, settles at 1.0110/11

The USD/CAD has been glued to a 17-pip trading range Tuesday as of morning during European trading (1.0099 session low – 1.0116 session high). As investors return from holiday, the pair seems to have failed to move based on any particular catalyst thus far. At the time of writing, the cross has notched marginal gains of +0.02%, trading at 1.0110/11.

According to the ICN.com Technical Analyst Team, “The USD/CAD stabilized above 1.0085 levels indicating that the upside move might extend. Despite the importance of 1.0120 resistance however, stability above the 1.0085 level might extend the bullish move up towards the 1.0205 region. Overall, the linear regression indicators are very positive, forcing us to turn bullish after the extension of the bearish correction failed due to stability above 1.0085.”

After muted trading yesterday given the holidays in North America, Statistics Canada is slated to reveal several indicators beginning later today at 13:30 GMT – these include Portfolio Investment figures and Wholesale Sales. Concerning the CAD, the price of crude has found traction at the USD $93.38 level in these moments.

Following the USD/CAD jump yesterday, the ICN.com analysts point to means of resistance at 1.0120 onto 1.0160, and finally the 1.0180 level. Conversely, a prolonged setback below the 1.0085 level will activate supports at the 1.0055 handle onto 1.0030.

Forex: EUR/USD below opening price

A first European money flow sent the EUR/USD down, below its opening price of 1.3350, coming to as low as 1.3334, but within the narrow trading range of the week, with the lower band at 1.3322. Investors are waiting for the ZEW survey in Germany and EMU to have something to price in. EMU construction output may also help.
আরও পড়ুন Previous

Commodities Brief – Precious metals hold onto Asian gains amidst modest rise

Gold prices rallied slightly at the onset of Asian trading Tuesday, despite the minor setbacks included in the price during yesterdays muted session in the US. As of European trading Tuesday, the yellow metal is gripping to a small gain on the day, as prices were fortified in the 1612 region (daily low), before rebounding slightly. At the time of writing Gold has settled at USD $1612.97, trading positively at $+4.17. With the absence of an overabundance of stimuli permeating the European – and later American – markets, prices are not expected to fluctuate greatly today.
আরও পড়ুন Next
শুরু করুন লাইভ চ্যাট