USD/CAD, D1

On the daily chart, the pair is moving sideways, the instrument is trading within the upper border and the middle line of Bollinger Bands. The price range is widened, which reflects the possibility of the upward movement development. MACD histogram is around the zero line, its volumes are slightly increasing, the signal line crosses the zero one upwards, giving a signal to open long positions. Stochastic is in the neutral zone, its lines are pointed downwards.

USD/CAD, H4

On the 4-hour chart, the instrument is moving sideways along the middle line of Bollinger Bands, the price range is narrowed. MACD histogram is around the zero line, its volumes are minimal, and the signal line is moving horizontally. Stochastic is at the border of the oversold area. It is the signal line crosses the border downward; a buy signal will be received.

Key levels

Resistance levels: 1.2880, 1.2900, 1.2930, 1.2950, 1.3000.

Support levels: 1.2850, 1.2820, 1.2800, 1.2750.

Trading tips

Long positions can be opened at the level of 1.2880 with the target at 1.2930 and stop loss 1.2850. Implementation period: 1–3 days.

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

US Dollar vs Canadian

BuySellSpread
1.329081.3288424

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point1.2880
Take Profit1.2930
Stop Loss1.2850
Support levels1.2750, 1.2800, 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 levels1.2750, 1.2800, 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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