- Analytics
- News and Tools
- Market News
- USDCAD: A dip towards 1.3370/1.3330 is on the cards – SocGen
USDCAD: A dip towards 1.3370/1.3330 is on the cards – SocGen
USDCAD could sustain losses in the near term, according to economists at Société Générale. The pair may test the 1.3370/1.3330 region.
Overcoming 1.3810 essential to affirm next leg of uptrend
“USDCAD faced interim resistance near 1.3980 last month and has evolved within a Head and Shoulders. This formation points towards possibility of a breather and short-term downside.”
“A dip towards the upper limit of the previous ascending channel and projections at 1.3370/1.3330 is not ruled out.”
“Overcoming right shoulder levels near 1.3810 would be essential to negate the pattern and affirm next leg of uptrend.”
© 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
