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PROPRIETARY NEWSLETTER

June Canadian Dollar Futures market news – BrokersEDGE – DAW Trading 4-24-18

Canadian (June)

Session close: Settled at .77905, down 61 ticks

Fundamentals: The Canadian has taken it on the chin just as every other currency has against the U.S Dollar. However, the second half of the session did give positivity to the energy sector and this should be monitored closely when trading the Canadian. Bank of Canada Governor Poloz spoke today and said they will remain cautious on rates, however, inflation is on target. Wholesale Inventories missed today and added pressure to the downside. There is no data out of Canada tomorrow.

Technicals: We have been Bullish in Bias the Canadian for some time, however, along that path we moved up the line in the sand to .7904-.7924. On our last FX Rundown, we said the market settled below here and for that reason we are completely Neutral. The downside has accelerated and is now testing into major three-star support at .7771-.7790; traders should watch this level closely along with energies for any signs of stability.

Bias: Neutral

Resistance: .7904-.7924***, .7968*, .8045-.8047**, .8100**, .8175***, .8544****

Support: .7771.7790***, .7718-.7735**, .7633***

For more information please contact DAW Trading at brokersedge@dawtradingdiv.com or at 877-329-0006 and visit us at https://dawtradingdiv.com/brokers-edge/

Disclaimer:

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. DAW Trading (“DAW”) uses various outside sources for research material regarding futures and options on futures trading therefore the views and opinions expressed in this letter may not necessarily reflect the view of DAW or its staff. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to DAW.

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