USD/CAD has violated mid BB since June and has been trading below mid BB up to date. Our view is Bearish, following weak Dollar index. We also note a pre-mature Double Top in both Jan 2016 and Mar 2020. The currency pair has significantly trading below a valid uptrend line since Sept 2012, signify weakening Canadian Dollar. The price could push down to support at 1.255. If it breaks below 1.20 USD/CAD could start a new long term bearish move
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Trade closed: target reached
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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.