Retail sales excluding cars -1.2% vs forecast -2.7%. Core sales (excluding gas station sales and sales of vehicles and parts) -1.4%, the 2nd consecutive decline m/m.
February retail sales estimate +4.0%.
USD/CAD ignored the report and continues to trade up 0.05% intraday at 1.2490.
USD/CAD, 30 min
Pivot: 1.2591
Analysis:
Provided that the currency pair is traded above 1.2555, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2591
- Take Profit 1: 1.2615
- Take Profit 2: 1.2640
Alternative scenario:
In case of breakdown of the level 1.2555, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2555
- Take Profit 1: 1.2540
- Take Profit 2: 1.2520
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
Resistance Support
1.2670 1.2555
1.2640 1.2540
1.2615 1.2520
USD/CAD, D1
Pivot: 1.2527
Analysis:
While the price is below 1.2745, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2527
- Take Profit 1: 1.2300
- Take Profit 2: 1.2180
Alternative scenario:
If the level 1.2745 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2745
- Take Profit 1: 1.2855
- Take Profit 2: 1.2980
Comment:
RSI shows the possibility of the downtrend in the medium term.
Key levels:
Resistance Support
1.2980 1.2300
1.2855 1.2180
1.2745 1.2000
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