2013.12.17 | USDCAD Market Analysis
USDCAD Trends & Major Market Levels
The USDCAD currency pair has been falling in forex market trading today with the USDCAD registering a high of 1.05953 and reaching to a low of 1.05748 on the day. Trends data shows the pair is currently in 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.
The USDCAD has been on the decline after reaching the 1.0700 level a few times last week. The 1.0550 and then the major 1.0500 levels are looming as the next major targets for prices to the downside while the closest upside obstacle is the 1.0600 round number.
USDCAD Trends Data: Linear Regression Indicator
10-day current trend is BEARISH / Trend strength of -93.7 pips
30-day current trend is BULLISH / Trend strength of 228.6 pips
60-day current trend is BULLISH / Trend strength of 370.0 pips
90-day current trend is BULLISH / Trend strength of 225.1 pips
180-day current trend is BULLISH / Trend strength of 342.8 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.
