For Traders

Analytical Reviews

Technical analysis

30.03.202320:46 Forex Analysis & Reviews: USD/CAD: downside continuation in cards

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 Massive Drop!

The USD/CAD pair crashed in the short term and now is trading at 1.3536 at the time of writing. You knew from my previous analysis that the price could approach and reach new lows if it drops below 1.3634.

Now, it's almost to reach the 1.3520 historical level. This is seen as a downside obstacle. After its massive drop, we cannot exclude a potential growth as long as it stays above 1.3634.

USD/CAD Trading Conclusion!

Dropping and staying below 1.3520 validates more declines and could bring new selling opportunities.

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.