For Traders

Analytical Reviews

Technical analysis

25.07.201710:04 Forex Analysis & Reviews: Technical analysis and trading recommendations for the USDCAD currency pair as of July 25, 2017

Long-term review

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 four-hour chart, we can observe the downward movement, where the price, which shows active bearish interest, has approached the 14-month low of 1.2460.

In case the "bearish", it is possible to assume further movement towards 1,2400 / 1,2200.

Key levels

Resistance - 1,2700;

Support - 1,2400;

Signals

- It is recommended to buy the pair after an apparent deceleration within 1.2460 / 1.2500, with the prospect of a reverse movement to 1.2600 / 1.2670.

- Selling the pair is recommended after a clear fixation of the price below 1.2460 with the prospect of a move to 1.2400 / 1.2200.

Please take note: Predictions are not a direct action to action!

I invite everyone to participate in the next webinars on technical analysis.

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.