USDCAD trend forecast MAY 6 , 2025
💬The USD/CAD pair slips back from recent highs, hovering near 1.3820 in early European trading on Tuesday, as technical signals point to persistent bearish undertones. The pair remains confined within a descending channel on the daily chart, reinforcing a downward trajectory.
The 14-day Relative Strength Index (RSI) lingers slightly above the 30 mark, suggesting ongoing selling pressure without yet signaling oversold conditions. Meanwhile, price action below the nine-day Exponential Moving Average (EMA) underscores faltering short-term momentum. A decisive move is still needed to validate the next directional bias.
To the downside, key support lies at the psychological level of 1.3800, with a deeper slide potentially exposing the seven-month trough at 1.3760—just shy of the channel’s lower limit near 1.3750.
💬 USDCAD mainly accumulates and moves sideways with a small amplitude. Expectations of interest rate cuts tomorrow cause DXY to weaken and USDCAD to decrease in price.
🥇/// SELL USDCAD: zone 1.38240 - 1.38400
SL: 1.38640
TP: 40 - 60 - 100pips ( 1.37400 )
Safe and profitable trading
💬The USD/CAD pair slips back from recent highs, hovering near 1.3820 in early European trading on Tuesday, as technical signals point to persistent bearish undertones. The pair remains confined within a descending channel on the daily chart, reinforcing a downward trajectory.
The 14-day Relative Strength Index (RSI) lingers slightly above the 30 mark, suggesting ongoing selling pressure without yet signaling oversold conditions. Meanwhile, price action below the nine-day Exponential Moving Average (EMA) underscores faltering short-term momentum. A decisive move is still needed to validate the next directional bias.
To the downside, key support lies at the psychological level of 1.3800, with a deeper slide potentially exposing the seven-month trough at 1.3760—just shy of the channel’s lower limit near 1.3750.
💬 USDCAD mainly accumulates and moves sideways with a small amplitude. Expectations of interest rate cuts tomorrow cause DXY to weaken and USDCAD to decrease in price.
🥇/// SELL USDCAD: zone 1.38240 - 1.38400
SL: 1.38640
TP: 40 - 60 - 100pips ( 1.37400 )
Safe and profitable trading
Trade active
+ 35 pips , signal SELL USDCAD ( 1.38240 - 1.38400 ) 
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MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.