FX.co ★ USD/CAD

USD/CAD Good Sunday! On the four-hour chart of the USD/CAD currency pair we can see that the bearish correction we observed at the end of last week from the newly set high of 1.4250 has been completed. Moreover, during this decline the price did not quite reach the support at 1.4155, where I was expecting it, and instead bounced already from the 1.4170 level. Now on the chart we see two consecutive bullish four-hour candles with the stochastic turning upward, and the quotes themselves are above the rising 2EMA trend indicator. At the same time, the rise is supported by the advisor installed on my chart, so we have all the signals for a continuation of the uptrend, and next week we should expect the bulls to try not only to consolidate above the middle of the 1.42 area, but also to move toward testing the round level of 1.4300.