USDCAD extended its upside movement from 1.2061 to as high as 1.2532. The uptrend could be expected to continue and next target would be at 1.2700 area.
USDCAD extended its upside movement from 1.2061 to as high as 1.2532.
As long as the price is above the rising trend line on the 4-hour chart, the uptrend could be expected to continue and next target would be at 1.2700 area.
On the downside, a break through below the rising trend line could bring the price back to next support level at 1.2327, below this level could signal completion of the uptrend, then the following downside move could take price back towards 1.2061 previous low.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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