 Good morning and welcome to the chart of the week video would be David man. Today's date is Wednesday the 9th of October 2019 and the time has just gone 10 15 for this summer time This week's chart of the week video is the US dollar Kennedy that are the dollar cat And take a look at the wider view. We can see at the market is a broadly speaking an upper trend and essentially while the While the market holds north of this trend line here It's likely that the wider positive view is going to continue But if you zoom in I would take a closer look at the sum of the price action We can see that the market had a very impressive push for push higher at the very beginning of 2019 At very size of a sell-off so you're lower low a lower high and another lower low But we have been pressing higher yet again and the em We have we created the a near term higher high in September with the lower low here And now we are back above this red line here at the 200 a moving average So it's possible that we could take out the recent high here over September and look to retest this region here The the highs of mid-June and that comes into play in around one spot 3432 and critical beyond that we're going to look at testing this area here highs of late May and that comes into play at one spot 3564 I'll take a closer look at the price action. We can see that There was there was has been some kind of sideways trading recently But we noticed that when the market after after after this price area here this red line Literally moving average which comes to play in that one thirty two oh eight We can see that if this metric acted at resistance in mid-September, but now it's actually acting as support so that metric is as a Has has been important in the near familiar past It makes it more likely that that it could be important in the near future, but obviously there are no guarantees So I find interesting about this chart is at the market And they should try to take the turn of the average it couldn't it moved and move to the downside And then a funny broke above it a bit of clear room above it This is a very bullish candle here and the since then it's been holding above that metric So if you get hold above that metric it likely we could retest The early September highs and then potentially under the June highs but if you do manage to drift lower on the on the On the dollar CAD we drop back below the journey will be average as possible that we could find some support from this So down around here. It's awesome solidation just north of the one thirty two mark this area here. I should we see a Break below that area it could take us back towards Early September low at this area here in around one spot thirty one thirty three And if you're to go below that we could be looking any back down towards the one thirty one thirty one area Which will be a level not seen a last seen in late July now if you are going to be trading the dollar CAD It is worth working while keep an eye out for the US Joel support today, which is out at 1500 per the summer time the US jobs market is in by and large pretty good shape And this is likely to give us an update of how things are going in terms of job job opening opportunities And also shortly after that at 15 30 British summer time. We have the US oil imagery report coming out The the Canadian dollar is often dragged around by the Influence by the movements in the underlying in oil as Canada has a relatively speaking rich and oil rich nation So any kind of short moves in the oil market is likely to have an impact on the Canadian dollar So if you trading trading this currency pair, please keep an eye out for those economic indicators One last thing before I go if you've any comments make in this video or any of the ultimate videos We've made here at CMC markets, please feel free to live with you on the reviews. Thank you very much