Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Daily Forex Update: USD/CAD

Published 09/10/2013, 05:11 AM
Updated 03/09/2019, 08:30 AM

USD/CAD continues to fall inside the daily Triangle chart pattern identified by Autochartist – as you can see form the following trade opportunity alert for this pair. The price is expected to break this Triangle and then to fall to the target level 1.0246 in the following 4 trading days. The stop-loss for this bearish forecast is set by Autochartist at 1.0561 (point B, the last connecting point of this Triangle). This point was formed recently when the pair reversed down from the strong resistance zone set between the resistance level 1.0550 as well as the weekly and the monthly upper Bollinger Bands. The sharp reversal from this resistance area created the strong bearish reversal candlestick pattern – the Evening Star on the weekly USD/CAD charts – indicating higher likelihood that this forecast will be soon realized.
USD/CAD
The following daily USD/CAD chart shows the aforementioned resistance levels:
USD/CAD

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.