USDCAD Remains Bullish as the Moving Average Indicator Signals a Buy

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


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, 1.2010
Supply Zones: 1.3980, 1.4670
USDCAD Remains Bullish as the Moving Average Indicator Signals Buy

USDCAD Long-term Trend: Bullish

The bullish order block that formed during the price delivery to the upside on September 19, 2022, is currently the reason for the ongoing wave expanding towards the high of USDCAD. The Moving Average Convergence Divergence (MACD) is currently rallying toward the zero line, which indicates a continuation of the bullish trend. The major trendline is currently holding prices to the upside. The major trendline emerged when the price reached its local low of 1.2400 on April 5, 2022. A lot of selling pressure would be needed to invalidate the major trendline. On September 1, 2022, a double top was formed with a daily high of July 14, 2022.

The double top was invalidated in less than two weeks due to the selling pressure at the daily bullish order block. On September 13, 2022, a bullish marubozu candlestick was used to run through the buy-side liquidity above the double top. Similarly, a bearish marubozu was created to grab liquidity below the double bottom on November 4, 2022. While the bulls appear to be in control of the market, the bearish order block that formed as the price crashed from the 1.3980 resistance could cause the downfall of USDCAD.
USDCAD Remains Bullish as the Moving Average Indicator Signals Buy

USDCAD Short-term Trend: Bullish

Coming from the discount of the previous trading range, the market ascends upward with higher highs and higher lows on the four-hour chart. The current trading range is defined by the 1.3320 and 1.3650 price levels. USDCAD is expected to seek buy orders at the discount before resuming the upward trend.

You can purchase Lucky Block here.  Buy LBLOCK

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.