Forex Market: USD/CAD daily trading signals

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

On Tuesday USD/CAD long positions should be opened above the hourly 21-period Exponential Moving Average (1.3944) with targets set in proximity to December 21st high of 1.3995 and stops placed just below the hourly 50-period EMA (1.3915-1.3925 area). Short positions, on the other hand, could be opened below the low from December 21st (1.3910) with targets set in proximity to December 18th low of 1.3851 and stops placed just above the hourly 21-period EMA.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Soft futures mixed; sugar rebounds as Brazil ethanol rallies Soft futures were mixed on Friday with sugar, coffee and cotton on green side, while cocoa marked another day of losses.On the ICE Futures U.S. exchange, sugar futures for July delivery marked a new daily high at $0.1641 a pound at 13:00 […]
Softbank’s credit rating cut to junk after Sprint’s acquisition Standard & Poor has cut Japanese Softbank company rating to junk after the firm was successfully approved by Federal Communications Commission for its bid for Sprint worth more than $21 billion. A lower credit rating indicates a higher […]
Germany’s wholesale prices fall for 18th month in October Wholesale prices in Germany have decreased at an annualized rate of 0.8% in October, data by the Federal Statistical Office showed.The latter has been a slowdown from a 1.6% drop in the prior month.October marked the 18th consecutive […]
IAG posts a 770-million-euro operating profit due to strong performance by British Airways International Consolidated Airlines Group SA made an official statement today, revealing a 2013 operating profit before one-time items, which is estimated to 770 million euros (1.1 billion dollars). The upbeat result is based on an income […]
Forex Market: EUR/USD snaps three days of declines as investors confidence in the EZ surges to a three-year high The euro snapped three days of losses against the US dollar, after data showed investors confidence in the euro area rose this month to the highest in three years. However, gains were limited as last week European Central Bank President Mario […]
Gold trading outlook: futures extend gains on growth concerns Gold edged up on Wednesday to trade near $1 300 an once as worries about global growth and the possible launch of a stimulus program from the ECB prompted investors to seek the safety of the metal.Comex gold for delivery in February […]

Related News