USD/CAD, D1

On the daily chart, the upward movement is being corrected, the instrument has broken the middle line of Bollinger bands downwards, continuing the decline. 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 downwards.

USD/CAD, H4

On the 4-hour chart, there is a downward correction, too, the instrument has broken the bottom border of Bollinger bands downwards, the fall continues. MACD histogram is around the zero line, its volumes are reduced, the signal line is directed downwards. Stochastic crosses the border of the oversold zone downwards, forming a signal to open long positions.

Key levels

Resistance levels: 1.3201, 1.3220, 1.3234, 1.3267, 1.3289, 1.3317, 1.3333, 1.3359.

Support levels: 1.3155, 1.3125, 1.3105, 1.3086, 1.3070, 1.3048.

Trading tips

Long positions can be opened from the level of 1.3234 with the target at 1.3289 and stop loss 1.3200. Implementation period: 2–3 days.

Short positions can be opened from the level of 1.3125 with the target at 1.3050. Stop loss is 1.3155. Implementation period: 3–5 days.

US Dollar vs Canadian

BuySellSpread
1.339061.33786120

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point1.3234
Take Profit1.3289
Stop Loss1.3200
Support levels1.3048, 1.3070, 1.3086, 1.3105, 1.3125, 1.3155, 1.3201, 1.3220, 1.3234, 1.3267, 1.3289, 1.3317, 1.3333, 1.3359

Alternative scenario

RecommendationsSELL STOP
Entry Point1.3125
Take Profit1.3050
Stop Loss1.3155
Support levels1.3048, 1.3070, 1.3086, 1.3105, 1.3125, 1.3155, 1.3201, 1.3220, 1.3234, 1.3267, 1.3289, 1.3317, 1.3333, 1.3359
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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