USD/CAD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 6 August 2021

Even though USD / CAD is within the zone under the important thing resistance stage 1.2595, it discovered assist on the vital stage 1.2505.

The primary sign for getting will probably be a breakdown of the short-term resistance stage of 1.2522. Progress to the zone above the resistance stage of 1.2595 will verify the restoration of the bullish dynamics of USD / CAD with the prospect of development to the resistance ranges of 1.2740 (Fibonacci stage 38.2% of the downward correction within the wave of USD / CAD development from the extent of 0.9700 to the extent of 1.4600), 1.2950 (see additionally  “Fundamental Analysis and Recommendations”)

In an alternative scenario, the primary sign for promoting USD / CAD will probably be a breakdown of the assist stage 1.2476. A break of the 1.2440 assist stage will verify the return of USD / CAD to the long-term downtrend.

Buying and selling suggestions

Promote Cease 1.2465. Cease-Loss 1.2535. Take-Revenue 1.2440, 1.2330, 1.2200, 1.2165, 1.2100

Purchase Cease 1.2535. Cease-Loss 1.2465. Take-Revenue 1.2595, 1.2680, 1.2740, 1.2825, 1.2950

*) USD/CAD:  Current Fundamental Analysis and Market Expectations

**) probably the most up-to-date “scorching” analytics and buying and selling suggestions (together with entries into trades “by-the-market”) –

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