Main Scenario: As long as it remains below 1.3290 level, our main expectation is NEGATIVE!
In addition, the downward break of the 1.3017 – 1.3043 region may further strengthen our negative expectation.
Target Expectation: 1,3146 – 1,3094 – 1,3043
Considerations Supporting The Scenario: Despite upward outflows, the bearish trend outlook continues below trend intersection 1.3290.
Alternative Scenario: The alternative expectation is POSITIVE in case of 4-hour closing on 1.3290 level!
Alternative Target Expectation: 1,3355 – 1,3435 – 1,3495
IMPORTANT NEWS AND ASSETS OF THE DAY
Friday, November 08
- Euro Zone: German Trade Balanceand European Finance Ministers Meeting,
- Canada Employment Change, Unemployment Rate and Housing Starts,
- US Michigan Consumer Sentiment,
When we consider the current news feeds today, USDCAD may attract attention relative to other entities.