empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

29.05.202320:27 Forex Analysis & Reviews: USD/CAD: potential downside continuation

The USD/CAD pair dropped again today and now is trading at 1.3587 at the time of writing. In the short term, the price signaled exhausted buyers, so we cannot exclude a potential downside reversal. Still, this scenario is far from being confirmed, that's why we'll have to wait for new opportunities.

Tomorrow, the Canadian Current Account is expected at -9.9B versus -10.6B. On the other hand, the US CB Consumer Confidence could drop to 99.1 points from 101.3 which could be bad for the greenback. Still, better than expected US data could save the USD from the downside in the short term.

USD/CAD Head & Shoulders!

Exchange Rates 29.05.2023 analysis

Technically, the USD/CAD pair failed to reach the upper median line (uml) of the ascending pitchfork indicating exhausted buyers. Now, it has failed to stay above the median line (ml) and it challenges the 1.3583 downside obstacle.

The weekly pivot point of 1.3580 represents a static support as well. It remains to see how it reacts around this downside obstacle.

USD/CAD Outlook!

A bearish closure below 1.3583 is seen as a new selling opportunity.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.