USD/CAD, D1

On the daily chart, the trend is upwards, the pair is trading near the upper border of Bollinger bands. MACD histogram is in the positive area, keeping the signal to open long positions. Stochastic is in the neutral zone, the lines of the oscillator are directed upwards.

USD/CAD, H4

On the 4-hour chart, the instrument grows again after a short-term correction. The pair is trading between the upper border and the middle line of Bollinger bands, the indicator cloud is expanded, reflecting a likely continuation of growth. MACD histogram is in the positive area, the signal line crosses the body of the histogram upwards, forming a signal for opening long positions. Stochastic is in the neutral region, the oscillator lines are directed downwards.

Key levels

Resistance levels: 1.3220, 1.3232, 1.3287, 1.3351, 1.3386.

Support levels: 1.3170, 1.3130, 1.3105, 1.3086, 1.3070, 1.3048.

Trading tips

Long positions can be opened from the current level with the target at 1.3287 and stop loss 1.3170. Implementation period: 1–3 days.

Short positions can be opened from the level of 1.3130 with the target at 1.3050. Stop loss is 1.3170. Implementation period: 3–5 days.

US Dollar vs Canadian

BuySellSpread
1.339061.33786120

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point1.3207
Take Profit1.3287
Stop Loss1.3170
Support levels1.3048, 1.3070, 1.3086, 1.3105, 1.3130, 1.3170, 1.3220, 1.3232, 1.3287, 1.3351, 1.3386

Alternative scenario

RecommendationsSELL STOP
Entry Point1.3130
Take Profit1.3050
Stop Loss1.3170
Support levels1.3048, 1.3070, 1.3086, 1.3105, 1.3130, 1.3170, 1.3220, 1.3232, 1.3287, 1.3351, 1.3386
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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