USDCAD - 13 Jan - break and head to Resistance
מעודכן
USDCAD trend forecast January 13, 2025
The USD/CAD pair continues its upward momentum, climbing near the 1.4430 level during the Asian session on Monday. Concerns over potential US trade tariffs weigh on the Canadian Dollar (CAD) against the US Dollar (USD). However, optimism surrounding a possible change in Canada's government and higher crude oil prices may help limit CAD's losses.
The robust US jobs report reinforces the Federal Reserve's (Fed) cautious approach to rate cuts this year, providing support to the USD. On Friday, the US Bureau of Labor Statistics (BLS) reported a stronger-than-expected increase in Nonfarm Payrolls (NFP) for December, which rose by 256K compared to the prior reading of 212K (revised from 227K), surpassing the forecast of 160K. Additionally, the Unemployment Rate declined to 4.1% in December from 4.2% in November.
H1 frame shows buyers are dominant, trading volume is increasing. Waiting for H1 resistance on Monday
/// SELL USDCAD : zone 1.44600 - 1.44700
SL: 1.45000
TP: 40 - 80 - 150pips ( 1.43200)
Safe and profitable trading
The USD/CAD pair continues its upward momentum, climbing near the 1.4430 level during the Asian session on Monday. Concerns over potential US trade tariffs weigh on the Canadian Dollar (CAD) against the US Dollar (USD). However, optimism surrounding a possible change in Canada's government and higher crude oil prices may help limit CAD's losses.
The robust US jobs report reinforces the Federal Reserve's (Fed) cautious approach to rate cuts this year, providing support to the USD. On Friday, the US Bureau of Labor Statistics (BLS) reported a stronger-than-expected increase in Nonfarm Payrolls (NFP) for December, which rose by 256K compared to the prior reading of 212K (revised from 227K), surpassing the forecast of 160K. Additionally, the Unemployment Rate declined to 4.1% in December from 4.2% in November.
H1 frame shows buyers are dominant, trading volume is increasing. Waiting for H1 resistance on Monday
/// SELL USDCAD : zone 1.44600 - 1.44700
SL: 1.45000
TP: 40 - 80 - 150pips ( 1.43200)
Safe and profitable trading
עסקה פעילה
USDCAD price has dropped to the 1.44100 sideway area
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