USD/CAD Gains Support Near $1.3590 – Is It Worth Going Long?
The USD/CAD pair fell to find support near $1.3590, and the closing Doji candle indicates a weakness in the selling trend.
Skerdian Meta•Wednesday, November 2, 2022•1 min read
The USD/CAD pair fell to find support near $1.3590, and the closing Doji candle indicates a weakness in the selling trend. As a result, there is a good opportunity to target $1.3620 or $1.3635 ahead of the US rate decision.
USD/CAD
Later in the day, the market will be extremely volatile due to the FOMC meeting, so we must use proper risk management before placing any bets in USD/CAD.
Today’s trading range is expected to be between 1.3500 support and 1.3660 resistance.
Today’s forecast: Bullish above $1.3590
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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