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

USD/CAD is currently residing inside the resistance area between 1.2950 to 1.3050 area after recovering the previous bearish gap. CAD is struggling amid downbeat economic reports that encouraged USD strength.

Today US PPI report was published as expected at 0.2% increasing from the previous value of 0.1% and Core PPI also met expectation increasing to 0.2% from the previous negative value of -0.1%. As US President Donald Trump is against rapid rate hikes by the Federal Reserve, such remarks are certainly bearish for USD. Ahead of the CPI report to be published tomorrow, which is expected to be unchanged at 0.2%, USD may gain further over CAD if the reading meets expectation or performs better.

On the other hand, CAD Building Permits report was published with an increase to 0.4% from the previous negative value of -1.5% but it did not meet the expectation of 0.5%. Moreover, the Housing Starts report published recently showed a decrease to 189k from the previous figure of 199k which was expected to increase to 203k.

Meanwhile, USD is expected to dominate CAD in the coming days as CAD has been weighed down by fresh economic data. On the other hand, a positive CPI report is expected to inject further bullish momentum in the pair, triggering further upward pressure in the pair in the coming days until Canada presents solid economic data to counter strongly in the process.

Now let us look at the technical view. After certain bullish rejections from the resistance area between 1.2950-1.3050, the price is surprisingly extending its climb with an impulsive momentum which is expected to lead to further bullish pressure in the pair. Despite the current bullish momentum, further bullish pressure will only be confirmed after the price clears above 1.3050 with a daily close. As the price breaks above 1.3050, the bullish bias is expected to push the price higher with target towards 1.3300-50 area in the coming days.

SUPPORT: 1.2750, 1.2950

RESISTANCE: 1.3300-50

BIAS: BEARISH

MOMENTUM: VOLATILE

Exchange Rates 10.10.2018 analysis

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

Performed by Rocky Yaman,
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.