2013.12.04 | USDCAD Market Analysis
USDCAD Trends & Fibonacci Retracement Levels
The USDCAD currency pair has been gaining more higher ground in forex market trading today with the USDCAD registering a high of 1.06768 and reaching to a low of 1.06369 on the day. Trends data shows the pair is continuing along in a short-term uptrend with prices trading over the 21-period linear moving average. Over the longer term trend, the pair also continues to be in an uptrend as seen on the daily chart by the 90-day Linear Regression Channels below. Watch for the top of the fibonacci at 0.0% (1.06711) for upside resistance with near-term support likely to be found below at the major 1.0650 level.
USDCAD Trends Data: Linear Regression Indicator
10-day current trend is BULLISH / Trend strength of 216.8 pips
30-day current trend is BULLISH / Trend strength of 216.8 pips
60-day current trend is BULLISH / Trend strength of 325.2 pips
90-day current trend is BULLISH / Trend strength of 159.1 pips
180-day current trend is BULLISH / Trend strength of 322.7 pips
Fibonacci Retracement Levels: Past 100 Days
— 0.000 – 1.06711
— 0.236 – 1.05554
— 0.382 – 1.04838
— 0.500 – 1.04259
— 0.618 – 1.03681
— 0.764 – 1.02965
— 1.000 – 1.01808
By CountingPips.com – Forex Trading Apps & Currency Trade Tools
Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.
