USD CAD Technical analysis
The Canadian dollar continues to gain, fell to a low of 1.3060, almost the lowest level since July 19 after the election closed Justin Trudeau started his second term as the Canadian Prime Minister with the minority Liberal government.
Any progress in U.S.-China trade would likely raise risk appetite and boost the Canadian Dollar.
Historically, the Canadian Dollar reached an all-time high of 1.62 in January of 2002 and a record low of 0.91 in November of 2007.
As mention in, last post: the Canadian Dollar face in a very interesting situation for the continuing trend
On all my USD CAD posts I was talked about the long-term moves and try to draw conclusions for the future on this pair, we got the bounce and now my assumption & scenario is a bit complicated and you need to be ready for a lot of movements with USD CAD. –CAD trading pattern
USD CAD technical analysis:
As long as the Canadian holds the support and will not break down the 1.2970 + area the trend is positive and the expectation is to continue higher – need to see again crossing up 1.3260 price level
On the other hand, a break of this area will send the Canadian to areas of 1.2830 1.2620 1.2580 when a break of 1.2470-1.25 will lead the pair to the 1.21 area -same as happening in 2008
As long as the Canadian holds the support and will not break down the 1.2970 + area the trend is positive and the expectation is to continue higher – need to see again crossing up 1.3260 price level
On the other hand, a break of this area will send the Canadian to areas of 1.2830 1.2620 1.2580 when a break of 1.2470-1.25 will lead the pair to the 1.21 area -same as happening in 2008
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice
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