E Forex Analysis Of USD/CAD For Tuesday, July 10

First, we look into the yesterday trade and what happened on July 9, 2018, and it opened at 1.30875 and went high at 1.31220 and gone low 1.30652 and finally closed at 1.31046.  The calculated pivot point for the day is 1.30972.

The difference between high and low was reasonable 568 points and there was a good chance for a trader to take the opportunity since the difference is in a good range.  Now the opportunity is going to higher levels for few days. For the last many days, this pair is moving from 1.30658 level to 1.31523 level range, now it is going to higher levels due to trade war with China.  Hourly traders are waiting for an opportunity to buy at 1.31120 levels and sell at 1.30666 levels

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

 

Level

First Level

Second Level

Third Level

Selling Level

1.30666

1.29758

1.28966

Buying Level

1.31120

1.31155

1.33296

 

TODAY EVENTS TO BE OBSERVED AND TRADERS SHOULD BE CAUTIOUS AT THESE TIMES AND TAKE ADVANTAGE OF THE EVENTS

 

GMT

Event

Actual

Previous

10:00

 USD NFIB Business Optimism Index

107.2

107.8

12:55

 USD Redbook index (MoM)

-0.2%

-0.4%

12:55

 USD Redbook index (YoY)

5.2%

4.4%

14:00

 USD JOLTS Job Openings

 

6.698M

15:30

 USD 4-Week Bill Auction

 

1.86%

17:00

 USD 3-Year Note Auction

 

2.664%

20:30

 USD API Weekly Crude Oil Stock

 

-4.5M

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