USD/CAD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
We hold a negative bias towards USD/CAD in the near term, being that the currency pair has formed a bearish channel. The pattern implies that the upside is limited by the resistance trend-line at 1.3275, while upward correction is to be expected near the lower boundary of the channel at 1.3225, which is also reinforced by the monthly PP and Nov 11 low. Once the latter level is out of the way, the 200-hour SMA at 1.3186 will become the next objective. On the other hand, if the price breaches 1.3275, the outlook will be changed to bullish, and the new target will be the Nov 6 high at 1.3315. Meanwhile, the SWFX market is somewhat oversold, as 57% of open positions are short.
© Dukascopy Bank SA
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كي تعرف المزيد عن منصة تداول دوكاسكوبي بنك للعملات وعقود الفروقات ومعلومات أخرى متعلقة بالتداول,
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للمزيد من المعلومات حول منصة تداول العملات المشفرة\عقود الفروقات\الفوركس, السوق السويسري للفوركس و اي معلومات اخرى تتعلق بالتداول,
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