Relevance up to 13:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Technical analysis:
USD/CAD has been trading upside yesterday and there is the strong breakout in the background but today there is correction. I expect further upside continuation and continuation of the upside breakout. Trading recommendation: Due to the strong breakout of the multi year base in the background, I see potential for further rally. Watch for potential buying opportunities on the dips with the upside objectives at the price of 1.3130 and 1.3220. MACD oscillator is showing upside reading, which is sign that buyers are still in control. Key support for today is set at 1.3060
Read more: https://www.instaforex.eu/forex_analysis/284696
Read more: https://www.instaforex.eu/forex_analysis/284696
