empty
 
 
18.08.2022 07:53 PM
USD/CAD below strong upside obstacle

This image is no longer relevant

USD/CAD Uptrend Intact

The USD/CAD pair jumped higher after failing to reach and retest the uptrend line. Now, it has reached the former high of 1.2962 which represents an upside obstacle. After reaching this key level, it has retreated a little but it could resume its growth as long as it stays above the uptrend line.

Only dropping and stabilizing below the uptrend line may signal that the upside movement ended and that the price could develop a strong downside movement.

USD/CAD Trading Conclusion

Jumping and stabilizing above 1.2962 could activate further growth and could bring new buying opportunities.

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