Free Forex Signals and Forecast: Sell USD/CAD – 19 Jan 2022 – Forex Crunch

Olimpiu Tuns
Please note that we are not authorized to provide any investment advice. The information on this page should be construed for information purposes only.
Our free forex signals service trade today is a sell order on the USD/CAD pair.
The USD/CAD pair is trading in the red at the time of writing. The pressure remains high after failing to resume its rebound. So, the bias remains bearish, that’s why I’m looking for short opportunities.
Still, personally, I’ll wait for strong confirmation before considering going short on this market.
3 Free Forex Every Week – Full Technical Analysis
In the short term, the currency pair increased a little only because the Dollar Index has registered a strong leh higher. Technically, the index reached a strong resistance area, so a potential drop is favored. Today, you have to be careful as the fundamentals will drive the pair. 
Canada is to release its Consumer Price Index today. The indicator is expected to register a 0.1% drop in the last month versus 0.2% growth in November. In addition, the Core CPI and the Wholesale Sales will be released as well. On the other hand, the US is to release its Building Permits and Housing Starts.
Technically, the USD/CAD pair failed to stabilize above the descending pitchfork’s median line (ML) signaling strong downside pressure. Now, it has retested the median line, a new lower low could activate a downside movement.
free forex signals
My Risk: 1%
Risk / Reward Ratio: 1:1.5
Looking to trade forex now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Olimpiu Tuns
Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.
Our free forex signals service trade today is a sell order on the USD/CAD pair. The USD/CAD pair is trading in the red at the time of writing. The pressure remains high after failing to resume its rebound. So, the bias remains bearish, that’s why I’m looking for short opportunities. Still, personally, I’ll wait for strong confirmation before considering going short on this market. [su_button url=”https://www.forexcrunch.com/visit/learn2trade” style=”3d” background=”#1d44bb” size=”8″ center=”yes” radius=”0″]Get FREE Forex Signals Now![/su_button] 3 Free Forex Every Week – Full Technical Analysis In the short term, the currency pair increased a little only because the Dollar Index has…

source