Technical Analysis of the USDCAD Currency Pair; Dec 11, 2022Deltafx Admin 12 December 2022
After breaking the level of 1.35079 last week, the price rose in an uptrend to 1.36426 and managed to break this level. The tendency is neutral. In the coming week, we expect the price to fluctuate between 1.37000 and 1.35079, but the failure of one of these levels may help to identify the medium-term trend.
Important levels next week
In this section we will study the technical levels of currency pairs and important market symbols, the levels whose failure can determine the trend of the market next week, and you can use these levels as profit and loss limits in your trades.
USDCAD (Close Price Last week is 1.34703)
(1.27426, 1.28374, 1.29511, 2.30764, 1.32213, 1.3400, 1.35079, 1.36412, 1.38340, 1.39761)
USDCAD Fibonacci Pivot Point Level
These levels are one of the most important tools for traders, created based on market fluctuations and the closing and opening levels of candles in different time frames. The levels that exist in the 4-hour time frame are usually used by traders for daily trades, and it is possible to change them during the coming week due to market fluctuations. More and also the failure of the previous levels.