USD/CAD, D1

On the D1 chart, the instrument grows along the upper border of Bollinger Bands, the price range is widened, which indicates a possible continuation of the uptrend. MACD histogram is near the zero level, and its volume is minimal, the signal line is directed upwards. Stochastic is preparing to leave the overbought zone, forming a signal to open short positions.

USD/CAD, H4

On H4 chart the instrument is growing along the upper border of Bollinger Bands, and the price range is narrowed. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is on the border with the oversold area, the signal line is pointing up.

Key levels

Support levels: 1.2880, 1.2850, 1.2820, 1.2800.

Resistance levels: 1.2900, 1.2930, 1.2950, 1.3000.

Trading tips

According to technical indicators, long positions could be opened from the level of 1.2900 with the target at 1.2950 and stop-loss at 1.2870. Implementation time: 1-3 days.

Short positions may be opened from the level of 1.2850 with the target at 1.2800 and stop-loss at 1.2880. Implementation period: 3-5 days.

US Dollar vs Canadian

BuySellSpread
1.291661.2914125

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point1.2900
Take Profit1.2950
Stop Loss1.2870
Support levels1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000

Alternative scenario

RecommendationsSELL STOP
Entry Point1.2850
Take Profit1.2800
Stop Loss1.2880
Support levels1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000
USD/CAD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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