USD/CAD | US Dollar to Canadian Dollar Trading Analysis

USD/CAD,D1


USD/CAD,D1


Pivot: 1.2616


Analysis:

Provided that the currency pair is traded above 1.2550, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.2616
  • Take Profit 1: 1.2950
  • Take Profit 2: 1.3130


Alternative scenario: 

In case of breakdown of the level 1.2550, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.2550
  • Take Profit 1: 1.2420
  • Take Profit 2: 1.2300


Comment:

RSI shows the possibility of an uptrend during the day.


Key levels:

Resistance -- Support

1.3280 -------- 1.2550

1.3130 -------- 1.2420

1.2950 -------- 1.2300

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