Short-term Outlook
USDCAD failure to break above 1.3208 has led to another short-term pull-back. It is unlikely that recent downward move could turn into broader bearish sentiment.
In one possible scenario If price comes down more, it is expected to see a major rebound between 1.292 and 1.2875.
Expected price range for Sep 12 to Sep 16
65% probability : 1.29 - 1.314
95% probability: 1.274 - 1.33
Big Picture
Since Jun 2021 USDCAD rate has risen from the bottom of 1.201 to 1.322 which implies a slight bullish trend . It made a rising pattern which suggests a continuation upward move toward major resistances around 1.34, 1.35 and 1.43.
As long as USDCAD holds above 1.28 and 1.2875, overall rising trend would continue throughout the balance of 2022.
USDCAD failure to break above 1.3208 has led to another short-term pull-back. It is unlikely that recent downward move could turn into broader bearish sentiment.
In one possible scenario If price comes down more, it is expected to see a major rebound between 1.292 and 1.2875.
Expected price range for Sep 12 to Sep 16
65% probability : 1.29 - 1.314
95% probability: 1.274 - 1.33
Big Picture
Since Jun 2021 USDCAD rate has risen from the bottom of 1.201 to 1.322 which implies a slight bullish trend . It made a rising pattern which suggests a continuation upward move toward major resistances around 1.34, 1.35 and 1.43.
As long as USDCAD holds above 1.28 and 1.2875, overall rising trend would continue throughout the balance of 2022.
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.