The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The USD/CAD pair edged higher and now is trading at 1.3648 at the time of writing. You knew from yesterday's analysis that the rate seems determined to come back higher. The bullish momentum was natural after the US CB Consumer Confidence came in better than expected yesterday.
Today, the fundamentals should move the rate. The Canadian GDP is expected to report a 0.1% drop versus the 0.1% growth estimated. On the other hand, the US Chicago PMI could drop to 47.1 points from 48.6 points, while JOLTS Job Openings could drop to 9.41M. Poor US data and positive Canadian economic data could send the rate down again.
Technically, the bias remains bullish as long as ithe instrument stays above the median line (ml). I told you yesterday that a valid breakout above 1.3612 validates further growth in the short term. The 1.3654 former high represents an upside target.
Still, after the strong upwards movement, a minor retreat is natural. The rate could come back to test and retest the support levels before extending its growth.
A valid breakout through 1.3654 validates further growth towards the R1 (1.3680) and up to the upper median line (uml). This is seen as a buying opportunity. Also, testing and retesting the median line (ml) could bring new longs.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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