TRADERSSPREAD / signal
Feed
Forex
Crypto
Commodities
Indices
Reviews
Compare Brokers

USDCAD Technical Analysis 16 December, 2021

• USDCAD reversed from resistance level 1.2880
• Likely to fall to support level 1.270

USDCAD currency pair just reversed down from the key resistance level 1.2880 (which has been reversing the pair from the end of January, as can be seen from the daily USDCAD chart below), intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 1.2880 created the daily Japanese candlesticks reversal pattern Shooting Star.

Given the strength of the resistance level 1.2880, bearish divergence on the daily Stochastic and the strongly bearish US dollar sentiment seen across the FX markets today, USDCAD currency pair can be expected to fall further toward the next support level 1.270.

TAGS:

TOP BROKERS

Vantage FX
Samtrade FX
Plus500
Pepperstone
IG Markets
IC Markets

Latest News

View All →

Vantage FX Review:

Vantage FX

The multi-regulated CFD broker with 180+ products BRIEF INTRODUCTION The Vantage Group of Companies was incorporated in 2009 by a

Samtrade FX Review:

Samtrade FX

A comprehensive analysis of an award-winning broker BRIEF INTRODUCTION Samtrade FX is incorporated in Saint Vincent and the Grenadines under

Plus500 Review:

Plus500

The Israeli-based multi-asset company with 2000+ products BRIEF INTRODUCTION Plus500 is a trademark of Plus500 Limited, an Israel incorporated firm

Pepperstone Review:

Pepperstone

BRIEF INTRODUCTION Pepperstone, founded by Owen Kerr and Joe Davenport, is an FX and CFD broker based out of Melbourne,

IG Markets Review:

IG Markets

An in-depth analysis of the top Australian forex broker Introduction to the top CFD broker IG Markets Ltd is the

IC Markets Review:

IC Markets

The tier-I regulated broker with the lowest spreads in the industry BRIEF INTRODUCTION IC Markets is the trading name of