Usdcaddaily
USDCAD approaching resistance, look out for potential reversal!
USDCAD is approaching its resistance at 1.30785 where it is could reverse down to its support at 1.30160.
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USDCAD reversed from resistance, potential drop!
USDCAD reversed off its resistance at 1.30955 where it could potentially drop further to 1.30495.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
#USDCAD, New times?New Times - Following a rising trend that has been on the usdcad for many months, you can see in the graph above that a descending channel is created here.
The Stochastic is at the bottom of the daily graph which means we are heading for a fix but the trend will remain bearish.
Target: 1.2940