USD/CAD may keep rallying

fxstrategist

Established member
594 16
The USD/CAD keeps its bullish trend, the next resistance may be the 1.3458 level and from there the price may try to stall or even break to the downside, but if oil keeps dropping, then we may see a breakout of that level. A breakdown of the bullish trendline may indicate a change in direction, but there are no important supports until the 1.2840 area.
 

Forexmospherian

Legendary member
39,928 3,299
The USD/CAD keeps its bullish trend, the next resistance may be the 1.3458 level and from there the price may try to stall or even break to the downside, but if oil keeps dropping, then we may see a breakout of that level. A breakdown of the bullish trendline may indicate a change in direction, but there are no important supports until the 1.2840 area.
Morning fxs

Agree with you on UCad although slightly different on levels

I have 3435 -60 all as resistance levels after approx the big round 3400 number and then on pull backs we need to stay above 3250 and 80 to stay with the immediate bull bias.

Good luck - I am not planning to scalp it - but would still look at some sells before 3430 - thats if we get that far today


Regards

F
 

fxstrategist

Established member
594 16
The USD/CAD has consolidated just above the 1.3278 level, but only because oil is going sideways too. If oil goes back down, then the pair may try to go and reach the high at the 1.3458 level.
 

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