Market Analysis – February 22 USDCAD is experiencing a bullish reversal at the 1.330 support level. A double-bottom chart pattern has formed to signal an ascent. USDCAD Key Levels Demand Levels: 1.330, 1.290, 1.250Supply Levels: 1.370, 1.390, 1.400 USDCAD Long-term Trend: Bullish USDCAD used the supporting trendline to ascend from 1.250 to 1.390. The uptrend […]
USD/CAD has been trading with no clear direction over the past month and a half, moving between support at 1.3280 and resistance at 1.3530. However, in recent days, the pair has gained momentum and accelerated to the upside, testing the top of the range but failing to decisively break out. The upcoming sessions could potentially […]
Market Analysis – February 8 The USDCAD market ascended with the aid of the bullish trend line on the daily chart. The price ascended steadily till the market reached the peak price of the year at 1.390. The market has remained bearish since the formation of the head and shoulders pattern in October. USDCAD Key […]
On Wednesday, the USD/CHF fell by about 100 pips after cutting some losses during the previous hour, although it has rebounded halfway at the time of writing. The pair hit its lowest point since November 2021 at 0.9084 before recovering and moving back above 0.9166. The US dollar was weaker, while the Swiss franc was […]
USDCAD Analysis – December 7 USDCAD buying pressure continues to intensify as buyers still coordinate to push further. As more buying activity is seen on the currency pair, the bulls are determined to extend their run. As the Canadian currency continues to weaken, the US dollar keeps gaining strength to push forward. A buying spike […]
USDCAD Analysis – November 30 USDCAD remains bullish as the Moving Average indicator signals buy. A bullish order block emerged as the price was delivered to the upside on September 19, 2022, in an attempt to keep the market’s order flow bullish. USDCAD Significant Zones Demand Zones: 1.3230, 1.2010Supply Zones: 1.3980, 1.4670 USDCAD Long-term Trend: […]
USDCAD Analysis – November 23 USDCAD heads toward the diagonal support. The US dollar has been losing value against the Canadian dollar since the rejection at the resistance level of 1.3980. Following each break of structure in the downtrend, more bears storm the market with their sell orders. USDCAD Significant Zones Demand Zones: 1.3220, 1.2400Supply […]
USDCAD Analysis – November 16 USDCAD bulls find re-entry at a discount array. The market’s overall direction still aligns with the major trendline on the daily time frame. The trendline has been opposing the bears as they look downward. The recent pullback to the downside was due to the downcasting of USDCAD by its sellers […]
USDCAD Analysis – November 9 USDCAD seeks lower prices for buy orders in the discount zone. While the overall outlook of the market is bullish on the higher timeframe, the bears currently seem privileged to open short positions after the supply zone at 1.3980 was reached. USDCAD Significant Zones Demand Zones: 1.3220, 1.2730Supply Zones: 1.3500, […]
