USD/CAD Is in a Sideways Trend as Bulls and Bears Are Undecided About the Next Move

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.1900, 1.1800, 1.1700

USD/CAD Price Long-term Trend: Ranging
USD/CAD is in a downward move. Since May 10, the downtrend has been terminated as the currency pair resumes a range-bound move. For the past month, the currency pair has been fluctuating between levels 1.2000 and 1.2200. These range-bound levels are yet to be broken. The pair faces resistance at the 21-day SMA. The downtrend will resume if level 1.2000 is breached.

USD/CAD – Daily Chart

Daily Chart Indicators Reading:
USD/CAD is at level 35 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are pointing downward indicating the downtrend.

USD/CAD Medium-term Trend: Ranging
On the 4-hour chart, the USD/CAD is range-bound between levels 1.2000 and 1.2150. Since May 10, the pair has been fluctuating within a confined range. The currency pair will continue its range-bound move excerpt the range-bound levels are breached. Yesterday, the pair broke the lower price range but it is resuming upward.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
USD/CAD is below the 25% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways move.

General Outlook for USD/CAD
USD/CAD pair is in a sideways trend. The currency pair is not trending. USD/CAD will resume an upward move if the resistance at level 1.2200 is breached. Similarly, the selling pressure will resume if the bears break level 1.2000.


You can purchase crypto coins here: Buy Coins


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 result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • 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.

Leave a Reply

Your email address will not be published. Required fields are marked *