Trade of the Day: USD/CAD

Get the Autochartist Trade of the Day on your Mobile!

Join our Telegram Channel now!

ChartViper Trade of the Day

USD/CAD continues to fall toward the key support level 1.3742, which was recently identified by Autochartist. Autochartist rates the significance of this support level at the 4-bar level – which is the result of the four earlier reversals from this price level. USD/CAD is expected to continue to fall toward the support level 1.3742.

As can be seen from the daily USD/CAD chart below – the pair earlier reversed down from the resistance support area located between the key resistance level 1.3800 (former monthly high from November) and the upper daily Bollinger Bands. The proximity of this resistance area and the overbought daily Stochastic increase the probability USD/CAD will continue to fall toward the support level 1.3742.

Want to get full Autochartist Access?

  • Autochartist Market Scanner
  • Autochartist Market Reports
  • Autochartist Mobile App (QR Code)
  • Full Autochartist Web App
  • Volatility Analysis

Subscribe here: ChartViper Subscriptions