During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/CAD is out of the range
2021-06-14 • Updated
4H Chart
Daily Chart
USD/CAD managed to breakout of its tight range on Friday, reaching as high as 1.2177, and posted the highest daily close since mid-May, while the technical indicators are clearly bullish, which confirms the upside retracement outlook. In the meantime, our long position from 1.2060 mentioned last week has +100 pips in profit, while our stop remains at our entry. Any downside pressure this week is likely to remain short-lived above 1.21, while the final target for this trade remains at 1.22.
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
1.1944 |
1.2041 |
1.2100 |
1.2138 |
1.2197 |
1.2235 |
1.2332 |
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...