fbpx

Daily Market Analysis 05/10/2021: USDCAD

Instrument: USDCAD

Technical Analysis

Bullish Preference: 
A Buy position is envisaged if price trades above 1.26060 with take profit at 1.26178.
Bearish Preference: 
A Sell position is envisaged if price trades below price 1.25756 with take profit at 1.25636.
Fundamentals:
3:00pm USD ISM Services PMI
6:15pm USD FOMC Member Quarles Speaks


Comment: The pair struggled to capitalize on its early positive move and witnessed some selling near the 1.2630 area amid bullish crude oil prices, which tend to underpin the commodity-linked loonie.The USD continued drawing support from firming market expectations that the Fed would begin rolling back its massive pandemic-era stimulus.

Analysis: SCRUM Team

Leave a Comment

Your email address will not be published.

×
Free Online Class
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Compare
Wishlist 0
Open wishlist page Continue shopping