Technical analysis of USD/CAD for December 04, 2018
December 4, 2018 11:21 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
Overview:
The USD/CAD pair is still above the level of 1.3154 since last week. Now, the current price is set at 1.3160. On the H4 chart, the resistance is seen at the levels of 1.3360 and 1.3531. Besides, the weekly support 1 is seen at the level of 1.3360. Today, the USD/CAD pair is continuing to move in a bullish trend from the new support level of 1.3154, to form a bullish channel. Amid the previous events, we expect the pair to move between 1.3154 and 1.3360. Therefore, buy above the level of 1.3360 with the first target at 1.3360 in order to test the daily resistance 1 and further to 1.3531 in coming days. However, if the pair fails to pass through the level of 1.3360, the market will indicate a bearish opportunity below the level of 1.3360. The market will decline further to 1.3154 in order to return to the weekly pivot point. Additionally, a breakout of that target will move the pair further downwards to 1.3027.
Comment:
The weekly pivot is seen at the level of 1.3154.
The market is still in an uptrend. We still prefer the bullish scenario.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: