USD/CAD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 8 April 2021

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USD/CAD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 8 April 2021


The bearish trend in USD / CAD will continue for now (see “Fundamental Analysis and Market Expectations”).

In this assessment, on the one hand, there are expectations of accelerated growth of the American economy and the Fed’s soft policy, and on the other, accelerated inflation in the United States and the growth of federal debt, given the new gigantic infrastructure spending.

Support levels: 1.2591, 1.2576, 1.2460, 1.2365, 1.2170

Resistance levels: 1.2615, 1.2636, 1.2660, 1.2740, 1.2820, 1.2925, 1.2990, 1.3040, 1.3110

 

Trading scenarios

Sell Stop 1.2570. Stop-Loss 1.2625. Take-Profit 1.2500, 1.2460, 1.2365, 1.2170

Buy Stop 1.2625. Stop-Loss 1.2570. Take-Profit 1.2636, 1.2660, 1.2740, 1.2820, 1.2925, 1.2990, 1.3040, 1.3110

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

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