FX.co ★ USD/CAD

Hello traders, USD/CAD. After a long period of trading near the intermediate level of 1.373, the price managed to continue its upward cycle. Currently, the trend is around 1.377, above the important range with the lower minimum at 1.364, from which the impulsive rally started. Entering the market for buying is relevant to consider after the price returns to test the support at 1.366, from which one can expect a push towards the selling zone at 1.362. Additionally, entering the market for buying to continue the trend will be considered when there is a break above the bear zone at 1.389 with confirmation above it; in this case, short profit-taking targets can be set. If the currency falls back below the impulsive zone of 1.360, the likelihood of the market starting to reverse significantly will become real. Essentially, this is currently the most crucial point for canceling the bullish sentiment.