USD/CAD, D1

On the daily chart, the pair is growing towards the upper border of Bollinger Bands; the price range is widened, which reflects the possibility of the upward movement development. MACD histogram is in the positive zone, its volumes are gradually growing, and the signal line crosses the zero line and the histogram’s body upwards, giving a signal to open long positions. Stochastic is in the neutral zone, its lines have reversed upwards.

USD/CAD, H4

On the 4-hour chart, the instrument was corrected to the upper border of Bollinger Bands, the price range has widened. MACD histogram is in the positive zone, keeping a buy signal. Stochastic has left the overbought area; its lines are pointed downwards.

Key levels

Resistance levels: 1.3000, 1.3050, 1.3080, 1.3100, 1.3130.

Support levels: 1.2950, 1.2930, 1.2900, 1.2880, 1.2850, 1.2820, 1.2800, 1.2750.

Trading tips

Long positions can be opened at the current level with the target at 1.3030 and stop loss 1.2865. Implementation period: 1–3 days.

Short positions can be opened at the level of 1.2900 with the target at 1.2850. Stop loss is 1.2930. Implementation period: 3–5 days.

US Dollar vs Canadian

BuySellSpread
1.315341.3143599

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point1.2910
Take Profit1.3030
Stop Loss1.2865
Support levels1.2750, 1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000, 1.3050, 1.3080, 1.3100, 1.3130

Alternative scenario

RecommendationsSELL STOP
Entry Point1.2900
Take Profit1.2850
Stop Loss1.2930
Support levels1.2750, 1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000, 1.3050, 1.3080, 1.3100, 1.3130
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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