FX.co ★ USD/CAD

USDCAD H1 Chart Analysis: Let's examine the general price action forecast for the USD/CAD currency pair, which saw a decline to highs yesterday. Price was unable to attend the planned testing. The level was still unfinished. Let's examine the H1 period. A reversal in our hands is already indicated by the formation of a "double top" reversal pattern. You can go a little higher up and then head south because the base's line hasn't been broken yet. To find your goal, use the Fibonacci grid. The hourly lag level and the level of 161.8 are nearly identical. For bullish market players, that is an additional signal. It is anticipated to climb to 1.36523. At this point, it's important to remember that Friday's market gain was more significant than the day before, so it can come as a surprise, particularly for day traders. Ronnie was unable to surpass the channel's top limits due to an abundance of US macro data and a lack of noteworthy news. The Canadian dollar is not being supported by WTI crude oil prices, which are still trading in the 75–80 range. We anticipate that the creation of an uptrend channel will continue, and Canada is not anticipated to provide any noteworthy information next week. Technically speaking, I can see that the symmetrical triangle is rather huge after receiving the north pulse, but the next target at the high level of 1.38073 is clearly visible. Small adjustments and careful monitoring: Our next aim is many hundred points away, and we must first break above the next resistance level of 1.37023–1.37033.