Take a look at USD/CAD

Take a look at USD/CAD

2021-05-26 • Updated

Picture3.png

Picture4.png

USD/CAD has been trading within a tight range for over two weeks now and holding well above 1.2050’s. The technical indicators are turning higher on the daily chart, which suggests a possible correction to the upside. The area between 1.2060 and 1.20 represents a solid support area which goes back to 2017 when the pair bottomed out and began a long-term bull run that lasted for over two years. Therefore, the current stabilization within the same area would be an opportunity to nibble some longs while the stop loss should not exceed 1.1980. On the upside move, 1.22 could be a reasonable first target in the next few days followed by 1.2235 for now.

S3 S2 S1 Pivot R1 R2 R3

1.1960

1.2009

1.2038

1.2058

1.2087

1.2107

1.2156

Similar

USD/CAD Short Trade
USD/CAD Short Trade

USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.

Eyes on Bank of Canada's decision today
Eyes on Bank of Canada's decision today

All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.

USD/CAD trade is in profit
USD/CAD trade is in profit

USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.

Latest news

US Stock Market Recovers
US Stock Market Recovers

What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…

What to trade on May 30-June 3
What to trade on May 30-June 3

Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail! 

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera