USD/CAD: technical analysis
07 May 2018, 12:20
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1.2880 |
| Take Profit | 1.2930 |
| Stop Loss | 1.2850 |
| Key Levels | 1.2750, 1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.2850 |
| Take Profit | 1.2800 |
| Stop Loss | 1.2880 |
| Key Levels | 1.2750, 1.2800, 1.2820, 1.2850, 1.2880, 1.2900, 1.2930, 1.2950, 1.3000 |
USD/CAD, D1
On the daily chart, the pair is moving sideways, the instrument is trading within the upper border and the middle line of Bollinger Bands. The price range is widened, which reflects the possibility of the upward movement development. MACD histogram is around the zero line, its volumes are slightly increasing, the signal line crosses the zero one upwards, giving a signal to open long positions. Stochastic is in the neutral zone, its lines are pointed downwards.
USD/CAD, H4
On the 4-hour chart, the instrument is moving sideways along the middle line of Bollinger Bands, the price range is narrowed. MACD histogram is around the zero line, its volumes are minimal, and the signal line is moving horizontally. Stochastic is at the border of the oversold area. It is the signal line crosses the border downward; a buy signal will be received.
Key levels
Resistance levels: 1.2880, 1.2900, 1.2930, 1.2950, 1.3000.
Support levels: 1.2850, 1.2820, 1.2800, 1.2750.
Trading tips
Long positions can be opened at the level of 1.2880 with the target at 1.2930 and stop loss 1.2850. Implementation period: 1–3 days.
Short positions can be opened at the level of 1.2850 with the target at 1.2800 and stop loss 1.2880. Implementation period: 3–5 days.
On the daily chart, the pair is moving sideways, the instrument is trading within the upper border and the middle line of Bollinger Bands. The price range is widened, which reflects the possibility of the upward movement development. MACD histogram is around the zero line, its volumes are slightly increasing, the signal line crosses the zero one upwards, giving a signal to open long positions. Stochastic is in the neutral zone, its lines are pointed downwards.
USD/CAD, H4
On the 4-hour chart, the instrument is moving sideways along the middle line of Bollinger Bands, the price range is narrowed. MACD histogram is around the zero line, its volumes are minimal, and the signal line is moving horizontally. Stochastic is at the border of the oversold area. It is the signal line crosses the border downward; a buy signal will be received.
Key levels
Resistance levels: 1.2880, 1.2900, 1.2930, 1.2950, 1.3000.
Support levels: 1.2850, 1.2820, 1.2800, 1.2750.
Trading tips
Long positions can be opened at the level of 1.2880 with the target at 1.2930 and stop loss 1.2850. Implementation period: 1–3 days.
Short positions can be opened at the level of 1.2850 with the target at 1.2800 and stop loss 1.2880. Implementation period: 3–5 days.
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