USDCAD Wave Analysis – 6 February 2025
- USDCAD reversed from the support zone
- Likely to rise to resistance level 1.4400
USDCAD currency pair recently reversed from the support zone between the pivotal support level 1.4290, which has stopped the previous corrections A, C , as can be seen below and the lower daily Bollinger Band.
The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Doji, which stands near the 50% Fibonacci correction of the previous upward impulse from November.
Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4400.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.