USDCAD TECHNICAL ANALYSIS

Here is a USDCAD Technical Analysis. It is a major currency pair and one of the 21 currency pairs that we cover and you can find more of our analysis and signals in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

 

USDCAD on the Daily Time Frame

Price has been trading in an upwards trend.

The price just bounced off the slanted support level and went up.

15 and 30 EMA also acted as a form of dynamic support.

MACD is in red and above the zero-line which shows bearish momentum.

However, the price has room to go up to the 100 EMA.

 

USDCAD on the H4

The price had been trading upwards.

MACD is in green and below the zero-line which shows bullish momentum.

Price had just bounced up from hitting a slanted support level.

Price has also surpassed the 15 and 30 EMA which acted as a dynamic resistance level.

This shows some strong bullish momentum from the price.

Price has some room to go up to the top of the Keltner channel before facing any potential resistance.

 

Conclusion

The price may be going up.

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist


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