FX.co ★ USD/CAD

The pair started with an upward gap, but then this gap was closed. Further movement is likely to continue in the direction of strengthening the US dollar, supported by demand for safe-haven assets. The strengthening of the USD has put pressure on the Canadian dollar. Despite the improvement in geopolitics, the market remains dependent on commodities, and oil fluctuations add volatility to the CAD. However, a descending trend is still intact, and the target area for sales is the full margin zone located within 1.37730-1.37540. In this situation, a move upwards to the 1/2 zone 1.38937-1.39033 is considered, with the formation of a reversal pattern for selling. In case of further growth and the daily candle closing above this zone 1.38937-1.39033, the selling scenario is canceled, and the priority will shift to the buyers.