In our free forex signals service today, we kick off the week with the USD/CAD pair, which is currently trading in the red, at 1.2669 level below today’s high of 1.2695 . At this juncture it could come back to test and retest the immediate support levels before climbing higher. But having said that, the pair could resume its climb higher if the Dollar Index (DXY) begins to challenge for new highs. -If you are interested in forex day trading then have a read of our guide to getting started- Technically, the pair has escaped from a continuation pattern, and this leads us to believe that the outlook is bullish in the short term, despite the minor retreat. The Federal Budget Balance will be released later today, but this indicator is unlikely to have much of an impact on the USD/CAD pair, although this is not to dismiss the fiscal bomb that is approaching for the federal government which – unless Congress steps up to the plate – will run out of money in November unless the debt ceiling is raised. Get FREE Forex Signals Now! All eyes on US CPI inflation data Tuesday Tomorrow, the United States inflation data could really shake the markets. The Consumer Price Index (CPI) could increase by 0.4% month on month in August, while the Core CPI is expected to rise by 0.3%. The annual rate is forecast to fall back from 5.4% to 5.3%. Any overshoot on inflation could strengthen the dollar as forex traders would see it as bringing forward tapering and the date of interest rate lift off. Canada is set to release its inflation figures on Wednesday as well, so the volatility could be high around these releases. The USD is still strong after the US PPI and the Core PPI numbers came in better than expected data. On the other hand, the Loonie (CAD) has tried to appreciate following the Canadian Employment Change and the Unemployment Rate indicators both beating expectations. From a technical point of view, USD/CAD slips lower and could make successive tests of the 1.2654 weekly pivot point. Stabilising above that level and making a new higher high with an upside breakout could signal further growth. The descending pitchfork’s upper median line (UML) is seen as an upside target if the price resumes its growth. USD/CAD free forex signals 13 September 2021 Instrument: USD/CAD Order Type: BUY STOP Entry price: 1.2703 Stop Loss: 1.2611 TP1: 1.2823 Our Risk Setting: 1% Risk / Reward Ratio: 1:1.3 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% 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. Gary McFarlane Gary McFarlane Gary was the production editor for 15 years at highly regarded UK investment magazine Money Observer. He covered subjects as diverse as social trading and fixed income exchange traded funds. Gary initiated coverage of bitcoin and cryptocurrencies at Money Observer and for three years to July 2020 was the cryptocurrency analyst at the UKâ€™s No. 2 investment platform Interactive Investor. In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun. Gary has also written widely on cryptocurrencies for various industry publications, such as Coin Desk and The FinTech Times, City AM, Ethereum World News, and InsideBitcoins. Gary is the winner of Cryptocurrency Writer of the Year in the 2018 ADVFN International Awards. View All Post By Gary McFarlane Forex Trading Signals share Read Next Solana Price Falls To $157 (-13%), Retracement Endures – Buy SOL Now Nancy Lubale 4 months In our free forex signals service today, we kick off the week with the USD/CAD pair, which is currently trading in the red, at 1.2669 level below today’s high of 1.2695 . At this juncture it could come back to test and retest the immediate support levels before climbing higher. But having said that, the pair could resume its climb higher if the Dollar Index (DXY) begins to challenge for new highs. -If you are interested in forex day trading then have a read of our guide to getting started- Technically, the pair has escaped from a continuation pattern, and… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.