Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

InstaForex Bonuses

InstaForex Bonuses

It may be a very interesting evening in Canada, where the overnight rate increase by 25 bps to 1.50% it is widely expected, but also almost entirely discounted. In a speech last week, the president of the Bank of Canada Stephen Poloz sounded optimistic, expressing satisfaction with the general state of the economy, while downplaying one-time "jumps" in monthly data. In the latter, it seemed to refer to the disappointing reading of retail sales in May, while the good condition of the economy was confirmed by the higher than expected GDP reading for April. Moreover, the quarterly central bank survey among enterprises indicated an increase in the general sentiment indicator to the highest level since 2011. The survey also showed an increase in inflation expectations and tensions in the labor market due to a shortage of employees. What can go wrong? Business surveys were conducted before the US announced tariffs on steel and aluminum imports. Hence, the hike may be framed with a cautious message emphasizing fears about the effects of global trade conflicts. With the current investment climate, it is real that the greater risk lies in "selling facts" and realizing profits from the last wave of CAD appreciation.

Let's now take a look at the USD/CAD technical picture at the H4 time frame. The market has bounced from the important techncial support at the level of 1.3066 and now the bulls have managed to retrace almost 38% of the previous swing down. The key retracement is seen at the level of 1.3263, just above the key technical resistance at the level of 1.23260, so if the bulls want to regain the control over the market, they must break through this zone. Otherwise, the temporary down pull-back will continue towards the level of 1.2834.

Exchange Rates 11.07.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2018
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.