03.07.201812:04 Forex Analysis & Reviews: USD/CAD analysis for July 03, 2018

Long-term review

Exchange Rates 03.07.2018 analysis

Recently, USD/CAD has been trading downwards. As I expected, the price tested the level of 1.3142. According to the H1 time frame, I found a breakout of the bearish flag pattern, which is a sign that sellers are in control. I also found a strong downward trend in the background and my advice is to watch for potential selling opprtunities. The downward target is set at the price of 1.3060.

Resistance levels: R1: 1.3226R2: 1.3263 R3: 1.3300

Support levels: S1: 1.3150S2: 1.3111S3: 1.3075 Trading recommendations for today: watch for potential selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

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