Trading Analysis of USDCAD

Trading Analysis of USD/CAD NBF economists expect USD/CAD to fall to 1.20 next year.Our Analysis:While the price is below 1.2700, follow the recommendations below:

Time frame: D1
Recommendation: short position
Entry point: 1.2469
Take Profit 1: 1.2400
Take Profit 2: 1.2300

Alternative scenario:If the level 1.2700 is broken-out, follow the recommendations below:

Time frame: D1
Recommendation: long position
Entry point: 1.2700
Take Profit 1: 1.2830
Take Profit 2: 1.2950

Trading Analysis of AUD/USD The AUD/USD pair encountered resistance at 0.7350 – UOB.Our Analysis:Provided that the currency pair is traded below 0.7375, follow the recommendations below:

Time frame: D1
Recommendation: short position
Entry point: 0.7304
Take Profit 1: 0.7165
Take Profit 2: 0.7000

Alternative scenario:In case of break-out of the level 0.7375, follow the recommendations below:

Time frame: D1
Recommendation: long position
Entry point: 0.7375
Take Profit 1: 0.7465
Take Profit 2: 0.7600

Source: PAXFOREX Broker

Gold Intraday: key resistance at 1763.00.

Pivot:1763.00

Our preference:Short positions below 1763.00 with targets at 1750.00 & 1745.00 in extension.

Alternative scenario:Above 1763.00 look for further upside with 1770.00 & 1779.00 as targets.

Comment:As long as 1763.00 is resistance, look for choppy price action with a bearish bias.

Silver spot Intraday: consolidation.

Pivot:22.87

Our preference:Short positions below 22.87 with targets at 22.54 & 22.36 in extension.

Alternative scenario:Above 22.87 look for further upside with 23.00 & 23.19 as targets.

Comment:As long as 22.87 is resistance, look for choppy price action with a bearish bias.

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