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TODAY USDCAD SIGNAL : USDCAD Price Analysis Dribbles inside weekly triangle around 1.3800

TODAY USDCAD SIGNAL

TODAY USDCAD SIGNAL : USDCAD Price Analysis Dribbles inside weekly triangle around 1.3800

  • USD/CAD remains sidelined while snapping three-day uptrend inside an immediate symmetrical triangle.
  • Sustained trading beyond the key moving averages, steady RSI favor buyers.
  • Two-week-old resistance adds to the upside filters on the way to early 2020 levels.

TODAY USDCAD SIGNAL : USD/CAD treads water around 1.3800 while staying inside a four-day-old symmetrical triangle during Thursday’s Asian session. Even so, firmer RSI and the Loonie pair’s ability to stay beyond the key moving averages keep the buyers hopeful.

That said, the aforementioned triangle restricts the nearby USD/CAD moves between 1.3825 and 1.3785.

Also acting as the short-term trading filters is the 100-HMA and an upward-sloping resistance line from September 28, respectively near 1.3770 and 1.3855.

TODAY USDCAD SIGNAL : Given the increased optimism about the USD/CAD pair’s upside momentum, coupled with the multiple failures to cross the stated trend line hurdle, a clear break of 1.3855 won’t hesitate to challenge the 1.4000 psychological magnet. In doing so, the quote will aim for the levels marked during May 2020.

Alternatively, a downside break of the 1.3770 HMA support won’t be a warm welcome for the sellers as the 200-HMA level of 1.3708 will act as the last defense for the USD/CAD buyers.
 
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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

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Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

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