- Analytics
- News and Tools
- Market News
- USD/CAD Price Analysis: Bulls are leading as daily support holds up
USD/CAD Price Analysis: Bulls are leading as daily support holds up
- USD/CAD is on firm grounds as the start of the week.
- Bears could be out of luck if the daily chart's support continues to hold up.
USD/CAD is firm in the open this week as risk-off markets favour the US dollar to commodity currencies. The focus is on the Ukraine crisis that has driven forex on Monday as tensions rise. The following is an illustration of the weekly and daily market structure and offers a bullish bias while within the bulls trend still.
USD/CAD weekly chart
From a weekly chart perspective, the price is teed up for a continuation to the upside as the daily support continues to hold off the bears.
USD/CAD daily chart
The daily chart shows the price as being trapped between the 1.2630s and 1.2870s with the bias tilted to the upside considering the bull trend.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
