For Traders

Analytical Reviews

Technical analysis

14.08.202008:39 Forex Analysis & Reviews: USD/CAD Price Movement On August 14, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

On the 4-hour chart, we spotted the Divergence between the Price and the Stochastic Oscillator. This indicates an upward retracement of USD/CAD which will interrupt the bearish bias. The retracement could happen after the loonie breaks the market structure first at 1.3191 before the price goes up for a retracement. Please pay attention to the 1.3338 level if the pair will pass it. Then, we might spot signs that the bearish bias of USD/CAD will change.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.