For Traders

Analytical Reviews

Trading plan

17.05.202110:26 Forex Analysis & Reviews: USD/CAD Buying Opportunity?

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.

USD/CAD moves sideways between 1.2173 and 1.2068 levels. An upside breakout from this range could signal further growth, while a downside breakout may indicate a deeper decline.

Jumping above the downtrend line signaled that the pair could develop a swing higher. A new upwards movement will be confirmed by a breakout and stabilization above the 1.2173 level.

On the other hand, dropping below 1.2068 static support, the downside obstacle could indicate a potential decline towards the 1.2000 psychological level.

Trading Conclusion!

Increasing and passing above 1.2173 could really signal more gains towards the 1.2300 psychological level.

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.