Our free forex signals service trade today is a buy order on the USDCAD. The USD/CAD pair drops at the time of writing as the Dollar Index has slipped lower after reaching a new high of 94.30. The DXY was expected to decline after registering an amazing rally on Friday. The currency pair moves sideways, that’s why we need a strong bullish confirmation before considering going long. In the short term, the USD/CAD pair seems undecided after the United States Advance GDP registered a 2.0% growth versus 2.6% expected, while the Canadian GDP reported only a 0.4% growth compared to 0.7% estimates. Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis US ISM Manufacturing PMI Decisive Today, the United States is to release its ISM Manufacturing PMI which is seen as a high-impact event. The economic indicator is expected to drop from 61.1 to 60.4 points. Furthermore, the Final Manufacturing PMI could remain steady at 59.2 points, the ISM Manufacturing Prices is expected to grow from 81.2 to 82.5 points, while the Construction Spending may register a 0.6% growth. On the other hand, the Canadian Manufacturing PMI will be released as well later. The fundamentals could drive the rate, so you should keep an eye on these figures. Technically, the USD/CAD pair moves sideways in the short term and it continues to stay near the descending pitchfork’s upper median line (UML). It has failed to reach this line in its previous attempts, so personally, I still believe that the rate could reach it soon. A valid breakout above it could announce potential growth. Free forex signals – BUY USD/CAD at 1.2416 Free forex signals entry price and take profit Instrument: USD/CAD Order Type: BUY STOP Entry price: 1.2416 Stop Loss: 1.2325 TP1: 1.2598 My Risk: 1% Risk / Reward Ratio: 1:2 Looking to trade forex now? Invest at eToro! Trade Forex Now! 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 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. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next USD/JPY Forecast: Exhausted Buyers Meet Resistance at 114.44 Olimpiu Tuns 7 months Our free forex signals service trade today is a buy order on the USDCAD. The USD/CAD pair drops at the time of writing as the Dollar Index has slipped lower after reaching a new high of 94.30. The DXY was expected to decline after registering an amazing rally on Friday. The currency pair moves sideways, that’s why we need a strong bullish confirmation before considering going long. In the short term, the USD/CAD pair seems undecided after the United States Advance GDP registered a 2.0% growth versus 2.6% expected, while the Canadian GDP reported only a 0.4% growth compared to… Regulated 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.
