Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
The USD/CAD pair is trading in the red corridor at 1.3489 on the H1 at the time of writing. It signaled that the upside movement is over and that the sellers could take the lead. It declined sharply as the US dollar index lost ground.
Later, the US economic figures could be decisive. Worse-than-expected data could send the USD/CAD toward fresh new lows. The Richmond Manufacturing Index and the Pending Home Sales will be published. Only better-than-expected data could help USD to rebound.
Technically, the USD/CAD was somehow expected to develop a larger drop after breaking below the uptrend line. It dipped below the 1.3561 and 1.3521 support levels signaling downside pressure.
It tried to rebound but it failed to stay above 1.3521 and above the lower median line (lml). It may hit 1.3484.
A valid breakout below 1.3484 and through the S2 (1.3480) brings new selling opportunities. The weekly S3 (1.3390) represents a downside target.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
