usd is strong against cad. there is a chance to hit r2 at 1.0076 on h1 chart. so it is wise for long. otherwise it may be down and chance to hit at 1.0031.
I think USDCAD will down today. USDCAD has broken the support level at 1.0018. IF USDCAD can break 0.9999, this pair may fall and touch the next support level at 0.9976. But if USDCAD can't break 0.9999, this pair may go up again and will try to reach 1.0051
All indicators are bullish.
I continue to advise the long positions as 0.9950 support.
The break of 1.0050 will give a new buy signal and pave the way for 1.01.
In case of return under 0.9950, I will be neutral between this level and 0.99.
The break of 0.990 would give a sell signal.
Looking at the chart , we can notice that the pair corrected its direction by going down after facing the support level @ 1.0038 , combining that with the negative news about dollar recently then we can expect this pair to move down with target @ 0.9947 which is the support level @ (23.6%) on the short term , Good Luck
USDCAD is moving in up channel here in H4 chart shown , as it tested the lower side and couldn't close below it i expect it will continue in up direction and so i suggest buy with small stop lose below this channel .
i think that we should sell nowe as we have a strong moving down trend on the weekly chart so i predict that USDCAD will move downward on the long term our tp1@23.6% as we have a support level @ this level.
USDCAD now is in up trend.
If USDCAD can break 1.0052, this pair has a potential to touch or hit 1.0126
But if USDCAD break 1.0018, this pair may fall and try to reach 0.9975
this pair in 15M chart we can see that
if the pair break 1.0050 then maybe we will see 1.0070
and
if the pair break 1.0020 then maybe we will see 1.0000
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