USDCAD is expected to trade below 1.39 and above 1.36 during the balance of this month. Overall sentiment would remain bullish as long as price holds above 1.35.
USDCAD Q4-2022 Outlook
USDCAD has been biased upward since June 2021. The rising trend which started around 1.2 is likely to continue toward the target of 1.41 by the end of this quarter.
Based on historical data, price range between 1.43 and 1.465 is considered as overbought during the last quarter of 2022.
While quarterly outlook remains weighted upward toward 1.41 as a base case scenario, short-term price range is likely to be between 1.353 and 1.39.
Downside risk
Overall trend suggests that the area between 1.35 and 1.37 would support bullish sentiment. However, breaching 1.35 would signal a possible downside risk toward 1.3.
USDCAD October 2022 Price Range
Upside: 65% Probability 1.41
Downside: 65% Probability 1.3565
Upside: 95% Probability 1.433
Downside: 95% Probability 1.333
USDCAD Q4-2022 Outlook
USDCAD has been biased upward since June 2021. The rising trend which started around 1.2 is likely to continue toward the target of 1.41 by the end of this quarter.
Based on historical data, price range between 1.43 and 1.465 is considered as overbought during the last quarter of 2022.
While quarterly outlook remains weighted upward toward 1.41 as a base case scenario, short-term price range is likely to be between 1.353 and 1.39.
Downside risk
Overall trend suggests that the area between 1.35 and 1.37 would support bullish sentiment. However, breaching 1.35 would signal a possible downside risk toward 1.3.
USDCAD October 2022 Price Range
Upside: 65% Probability 1.41
Downside: 65% Probability 1.3565
Upside: 95% Probability 1.433
Downside: 95% Probability 1.333
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.