USD/CAD | US Dollar to Canadian Dollar Trading Analysis

USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Written by: PaxForex analytics dept - Wednesday, 18 March 2020 0 comments

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 1.4350
  • Take Profit Level: 1.4550 (200 pips)

If the price rebound from resistance level, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 1.4150
  • Take Profit Level: 1.4100 (50 pips)

USDJPY 
A possible short position in the breakdown of the level 106.70

EURUSD 
A possible short position in the breakdown of the level 1.0950

USDCHF
A possible short position in the breakdown of the level 0.9560

GBPUSD
A possible short position in the breakdown of the level 1.1980