USDCAD Impulsive Breakout hit 1.380

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Market Analysis – September 28

USDCAD Impulsive Breakout hit 1.380. The USDCAD market has just reached its highest price this year. The United States Dollar currency continues to roar aggressively against the Canadian Dollar. 

USDCAD Major Levels

Support Levels: 1.200, 1.250
Resistance Levels: 1.300, 1.380
USDCAD Impulsive Breakout Hit $1.380

USDCAD Long-Term Trend: Bullish

USDCAD Impulsive Breakout resulted from a longtime gyration with a bullish channel. In May, the market dipped to the oversold region at 1.2000. The Moving Averages period nine and twenty-one crossed to reveal the initiation of an uptrend. There was a shift in the market structure from bearish to bullish after the demand level at 1.2000 was tested. The bulls utilized the demand zone at 1.200 to go long in the market.

USDCAD lurked within the major resistance level at 1.300 and the major support level at 1.250. This lasted for about seven months since the beginning of the year. The market continued to make higher highs and lows during the period. The market made a retest on the 1.3000 resistance level. This prompted the impulsive breakout of the bullish channel. The market rallied aggressively to hit 1.380.USDCAD Impulsive Breakout Hit $1.380

USDCAD Short-Term Trend: Bullish

The Stochastic Indicator shows that the market is currently oversold. A correction is therefore expected after the impulsive breakout. The market is expected to retrace towards 1.300. The anticipated pull-back is expected to prompt more accumulation for the bulls at discounted prices to shoot higher. 

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.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
$100 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.