2013.12.19 | USDCAD Market Analysis
USDCAD Trends & Major Market Levels
The USDCAD currency pair has been gaining ground in forex market trading today with the USDCAD registering a high of 1.07264 and reaching to a low of 1.06926 on the day. Trends data shows the pair is currently in a short-term uptrend with prices trading over the 21-period linear moving average. Over the longer term trend, the pair continues to be in an uptrend as seen on the daily chart by the 90-day Linear Regression Channels below. The USDCAD pair was boosted in Wednesday’s trading following the US Fed announcement to taper their stimulus program. Look for the 1.0700 level to provide a strong support and resistance area going forward.
USDCAD Trends Data: Linear Regression Indicator
10-day current trend is BULLISH / Trend strength of 46.3 pips
30-day current trend is BULLISH / Trend strength of 247.5 pips
60-day current trend is BULLISH / Trend strength of 390.7 pips
90-day current trend is BULLISH / Trend strength of 249.2 pips
180-day current trend is BULLISH / Trend strength of 351.9 pips
Fibonacci Retracement Levels: Past 100 Days
— 0.000 – 1.07067
— 0.236 – 1.05826
— 0.382 – 1.05058
— 0.500 – 1.04438
— 0.618 – 1.03817
— 0.764 – 1.03049
— 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.
