USDCAD Awaiting Break

The US dollar currency is failing to form a clear near-term trend against the Canadian dollar after the Bank of Canada failed to act on rates during yesterday’s policy meeting. From a technical perspective, a break from the 1.2600 to 1.2700 price range is needed to prompt the next directional move. The overall trend remains bearish so the chances of a downside break is therefore higher.


The USDCAD pair is only bullish while trading above the 1.2700 level, key resistance is found at the 1.2740 and the 1.2840 levels.


If the USDCAD pair trades below the 1.2700 level, sellers may test the 1.2610 and 1.2550 levels.



0 views0 comments

Credit 

Caution:

Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognize that for factors outside your control you may lose all of the money in your trading account. Many forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. Smart Analysis Pvt takes not responsibility for loss incurred as a result of our trading signals. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a the decision to copy our trades on your own account. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our signals or advice on forex related products on this website.

PayPal

Credit  & Debit Card

  • Black Facebook Icon
  • Black Instagram Icon
  • Black YouTube Icon

© 2023 by Personal Life Coach. Proudly created with Wix.com