USD/CAD, D1

On the daily chart, the instrument was corrected to the midline of Bollinger bands. MACD histogram is around the zero line, its volumes are minimal. Stochastic is in the neutral region, the oscillator lines are directed downwards.

USD/CAD, H4

On the 4-hour chart, the instrument moves sideways within the corridor formed by the borders of Bollinger bands. MACD histogram is in the negative area, its volumes are minimal, the signal line is ready to cross the zero line downwards, after which a signal to open short positions will be received. Stochastic crossed the oversold zone downwards, the oscillator lines move horizontally.

Key Levels

Resistance levels: 1.3100, 1.3175, 1.3287.

Support levels: 1.3050, 1.2998, 1.2960, 1.2928.

Trading tips

Short positions can be opened from the level of 1.3030 with the target at 1.2960 and stop loss 1.3060.

Long positions can be opened from the level of 1.3120 with the target at 1.3175 and stop loss 1.3090.

Implementation period: 1–3 days.

US Dollar vs Canadian

BuySellSpread
1.295331.2950825

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point1.3030
Take Profit1.2960
Stop Loss1.3060
Support levels1.2928, 1.2960, 1.2998, 1.3050, 1.3100, 1.3175, 1.3287

Alternative scenario

RecommendationsBUY STOP
Entry Point1.3120
Take Profit1.3175
Stop Loss1.3090
Support levels1.2928, 1.2960, 1.2998, 1.3050, 1.3100, 1.3175, 1.3287
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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