empty
 
 
27.02.2023 01:53 PM
USD/CAD upside continuation, 1.3646 as upside obstacle

This image is no longer relevant

USD/CAD Uptrend!

The USD/CAD pair increased as much as 1.3646 on Friday, where it found supply again. Now, it has dropped a little. It is trading at 1.3592 at the time of writing. You knew from my previous analyses that the currency pair could develop a larger upward movement after passing above the downtrend line.

Now, the uptrend line represents a downside obstacle. As long as it stays above it, the USD/CAD pair could extend its uptrend.

USD/CAD Trading Conclusion!

Staying above the uptrend line and making a new higher high, jumping above 1.3646 activate further growth. This scenario represents a buying opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback