logo |

News

    Home   >     Industry    >     Main body

    CAD Technical Forecast: USD/CAD Near Important Long-term Low

    Abstract:CAD Technical Forecast: USD/CAD Near Important Long-term Low
    aaas.png
    CAD TECHNICAL OUTLOOK
    •   USD/CAD broke 2018 low last week

    •   Could see the 2017 low in the days ahead

    •   Neutral to bearish trading bias

    CAD TECHNICAL FORECAST: USD/CAD VERY NEAR IMPORTANT LONG-TERM LOW

      Last week, USD/CAD continued its run of weakness with only a hesitation at the 2018 low before firmly breaking it on Thursday. Looking ahead to this coming week, the 2017 low, an important multi-year low, could come into play. And early.

      The 2017 low resides at 12061; a break below there will have USD/CAD at its worst levels since 2015. In the initial brush with this low, it is anticipated that some type of reaction will occur. But in the absence of a really strong reaction and hold of any initial bounce, the trading bias at best will be neutral.

      For would-be shorts, there isn‘t much room until we reach that low – unless you are looking for very short-term trades, then trading downside momentum may offer some opportunity. For those looking to hold for a few days or longer, risk/reward isn’t favorable at this juncture.

      It will take a little work around the 2017 low to pique interest from the long-side. A strong bounce would be good for starters.

    USD/CAD WEEKLY CHART
    USD/CAD
    USD/CAD DAILY CHART
    USD/CAD

      USD/CAD Charts by TradingView

        ==========

          WikiFX, a global leading broker inquiry platform!

          Use WikiFX to get free trading strategies, scam alerts, and experts experience!

          ╔════════════════╗

          Android : cutt.ly/Bkn0jKJ

          iOS : cutt.ly/ekn0yOC

          ╚════════════════╝

    wiki

    New Zealand Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    New Zealand Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.