The long zone starts at the 0.9950 level. The potential targets can be the larger offer levels of Institutional Holders. These are the 1.0012, 1.0045 and the 1.0075 levels.
The short zone starts at the 0.9870 level. In this case he potential targets can be the larger bid levels of Institutional Holders. These are the 0.9840 and the 0.9790 levels.
Since the price is in the long zone now (0.9980), the first target is the 1.0012 level.
Macro data(s):
CAD BOC Rate Statement and Overnight Rate macro datas are being published at GTM 15:00. Its bigger movement may affect the analysis.
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The short zone starts at the 0.9870 level. In this case he potential targets can be the larger bid levels of Institutional Holders. These are the 0.9840 and the 0.9790 levels.
Since the price is in the long zone now (0.9980), the first target is the 1.0012 level.
Macro data(s):
CAD BOC Rate Statement and Overnight Rate macro datas are being published at GTM 15:00. Its bigger movement may affect the analysis.
If you like the analysis, and you would like to see our forecasts among the first, you give me a follow.
If you're already following, thanks for the support.
Follow Smart Money
Twitter: @FXSmartMoney
Comment:
The price reached the 1st OFFER level.
Comment:
The price reached the 2nd OFFER level.