USD CAD Daily bullish hammer, but watch the news


USDCAD Daily bullish hammer but watch the news

The share price has formed a bullish daily hammer, as we see in our mini table and is in alignment with buyers historical support. It suggests a bullish continuation. Currently the market is waiting for important news of CAD and USD GDP so we have to pay attention to the cards.

POC (50.0, EMA 89, steep trend line) is located within the area 1.3145 to 55 and if the area has to 1.3180 1.3203 could see a (H4 CAM). If it breaks 1.3203 1.3250 is the next target. However, if we see a drop below 1.3145 CAD USD positive and negative news the pair could fall below 1.3100 targeting 1.3140.

The pair is technically bullish so if we see data from CAD / USD good bad, then the pair will be in both technical and fundamental and long alignment falls (break) is the choice.