is located above Ichimoku cloud in the bullish area of the chart. The price is on ranging within the following support/resistance levels:
Trend Strength indicator is evaluating the trend as a bullish, and Absolute Strength indicator is estimating the future trend as the ranging bullish.
If D1 price breaks 1.3399 support level on close bar so the local downtrend as the secondary correction within the primary bullish trend will be started.If D1 price breaks 1.2999
support level on close bar so we may see the reversal of the price
movement from the ranging bullish to the primary bearish market
condition. If D1 price breaks 1.3551 resistance level on close bar from below to above so the primary bullish trend will be resumed with 1.3588 nearest daily target to re-enter.If not so the price will be on bullish ranging within the levels.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.11.19 11:36
USD/CAD - "For the week ahead, Canadian data is relatively light as the U.S. goes on holiday on Thursday for Thanksgiving. Wholesale Sales are released on Monday, and Retail Sales on Tuesday in which a contraction of -.1% is expected. Perhaps more interesting in the immediate-future is how the Canadian Dollar responds to long-term support values (resistance on USD/CAD). The 1.3450-1.3550 zone has been a critical level in USD/CAD for a long time, providing a strong element of support in the mid-1990’s and, more recently as resistance in September of 2015 and then again over the past three weeks."
Sergey Golubev, 2016.11.22 09:32
Trading News Events: Canada Retail Sales (adapted from dailyfx)
Bullish CAD Trade: Retail Spending Rebounds 0.6% or Greater
Bearish CAD Trade: Canada Household Spending Disappoints
Daily price is on bullish are of the chart located to be above Ichimoku cloud. The price is on secondary correction to be started on open daily bar by 1.3386 support level to be broken for the correction to be continuing.
USD/CAD M5: range price movement by Canada Retail Sales news event