For Traders

Analytical Reviews

Technical analysis

30.03.202308:15 Forex Analysis & Reviews: USD/CAD analysis for March 30, 2023 - First downside objective reached and potential for the further downside movement

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.

Technical analysis:

USD/CAD has been trading downside as I expected and the price reached first objective at 1.2560. Anyway, the sellers are in control and I see potential for the further downside movement.

Due to the breakout of the multi day consolidation I see potential for the further downside movement towards lower references.

Downside objectives are set at 1.3520 and 1.3470

MACD oscillator is showing downside reading, which is another good sign for the further downside movement.

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.