A Major Demand Level Is Being Tested on USDCAD

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


USDCAD Analysis – March 30

A major demand level at 1.2470 is currently being tested on USDCAD. A lower major demand level at 1.2300 was tested on the 21st of October 2021. The demand level was well protected. The bears struck a second time on the 27th of October. The demand level held, and the attempted breakout was a failure. The Relative Strength Index had indicated that the market had been oversold and was ready to be bought. The bulls gained control and went long. The price soared effortlessly.


USDCAD Major Market Zones

Supply Zones: 1.2960, 1.2870, 1.2770
Demand Zones: 1.2300, 1.2470, 1.2640

A Major Demand Level Is Being Tested on USDCAD USDCAD Long Term Trend: Bearish

The market reached 1.29600. The prominent figure caused difficulty for the bulls and resisted the upward move. The major supply level was tested in the USDCAD market. The bears sank the price to a major demand level at 1.2640. The major demand level failed to hold the price. The market dipped further to the 1.2460 demand level. Finally, the bearish run was halted. The market sprung up to consolidate between the 1.2770 major supply and the 1.2640 major demand levels.

The bullish rally was seized at 1.2870. The Moving Averages period nine signified bearishness on the 16th of March as it changed position. The market has since been very bearish. From March 16th, when there was a break in the structure, to March 25th, there was a total absence of bullish daily candles. The major demand level at 1.2470 is currently being tested on USDCAD. The Stochastic is also showing the market is bearish.

A Major Demand Level Is Being Tested on USDCAD USDCAD Short Term Trend: Bearish

The bears are seeking to drive the price lower. If the major demand level tested on USDCAD fails, the bears will seek 1.2300. The zone was well defended back in January. The bulls might be successful in preventing lower pricing to the 1.2300 level.

How To Buy Lucky Block 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.