FX:USDCAD U.S. Dollar / Canadian Dollar
the pair rose from the level of 1.3371 (the level of 1.3371 coincides with a ratio of 38.2% ) to a top around 1.3401. Today, the first is seen at 1.3371 followed by 1.3322, while daily resistance 1 is seen at 1.3445. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3371 and 1.3445; for that we expect a range of 74 pips (1.3445 - 1.3371). On the one-hour chart, immediate resistance is seen at 1.3445, which coincides withthe . Currently, the price is moving in a . This is confirmed by the indicator signaling that we are still in a trending market. The price is still above the moving average (100), Therefore, if the trend is able to break out through the first of 1.3445, we should see the pair climbing towards the daily resistance at 1.3504 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3322.
Trade closed: target reached