scalping report
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- Nov, 20 EUR/JPY Support Levels Provide Targets For Scalpers
- Nov, 20 EUR/USD Remains Range Bound Becoming A Scalping Target
- Nov, 19 EUR/USD Remains Range Bound Becoming A Scalping Target
- Nov, 18 GBP/JPY Consolidation Creates Ideal Scalping Environment
- Nov, 17 USD/CAD Resistance Levels Provide Targets For Scalpers
- Nov, 16 USD/CHF Slows On Approach To Parity Creating Scalping Opportunity
- Nov, 13 USD/JPY Support Level Provides Target For Scalpers
- Nov, 12 GBP/USD Consolidating After Finding Support, Creating Scalping Environment
- Nov, 11 AUD/USD Quiets After Setting Fresh Yearly High, Creating Scalping Opportunity
- Nov, 10 GBP/JPY Consolidation Provides Opportunity For Scalpers
- Nov, 09 USD/CAD Slowed By Support Creating Scalping Opportunity
- Nov, 06 A Range Bound EUR/USD Provides Opportunity For Scalpers
- Nov, 05 AUD/USD Providing Rich Scalping Environment As Markets Await NFP’s
- Nov, 04 GBP/USD Becomes Target For Scalpers With Event Risk Looming
- Nov, 02 NZD/USD’s Declining Trendline Provides Opportunity For Scalpers
- Oct, 30 EUR/USD Provides Levels For Scalpers To Target
- Oct, 29 EUR/CHF Presents Scalping Opportunity As Broader Volatility Increases
- Oct, 28 EUR/USD: Trading the Advanced U.S. 3Q GDP Report
- Oct, 28 GBP/USD Becomes Target For Scalpers With Looming Event Risk.
- Oct, 27 USD/JPY Target For Scalpers As Yen Regains Funding Status
The USD/CAD has seen its advance slowed by Fibonacci resistance which has given way to a period of consolidation. However, the pair has experience several price wings creating opportunities for scalpers to profit.
Key Technical Levels
The 38.2% Fibo level of 1.1724-1.0208 at 1.0786 has become a home for the USD/CAD with the pair gravitating around the level for the past five trading days. The period of consolidation provides an ideal environment for scalpers to employ their strategies. Additionally, a short-term upward trend is providing key support levels for traders to target for entering and exiting positions.
Quantitative Metrics
The USD/CAD has seen its ATR hold steady around 150 which provides comfort for scalpers that daily volatility will be limited. However, a Bollinger band width of 750 pips and an implied volatility of 16.75 are concerning. Increasing implied volatility numbers across the board warns of potential volatility and should be taken into consideration when placing trades.
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To discuss this report or be added to the email list, contact John Rivera, Currency Analyst: jrivera@fxcm.com
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