2013.12.10 | USDCAD Market Analysis
USDCAD Trends & Fibonacci Retracement Levels
The USDCAD currency pair has been rising slightly in forex market trading today with the USDCAD registering a high of 1.06441 and reaching to a low of 1.06238 on the day. Trends data shows the pair is currently turning over into a short-term downtrend with prices trading under 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. Look for the 23.6% fibonacci retracement level to provide a line of support at the 1.0582 area with declines below that level bringing a potential fall to the major 1.0500 level.
USDCAD Trends Data: Linear Regression Indicator
10-day current trend is BULLISH / Trend strength of 87.7 pips
30-day current trend is BULLISH / Trend strength of 255.0 pips
60-day current trend is BULLISH / Trend strength of 378.4 pips
90-day current trend is BULLISH / Trend strength of 199.1 pips
180-day current trend is BULLISH / Trend strength of 338.1 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.
