USD / CAD is attempting to raise over 100 MA on a 4-hour schedule for the first time since June 18. Level is around 1.3082. Rising and closing at the top signals a new upward pulse.
Failure and decline and bear are under control.
Upon a possible rise, the next target comes to about 1.30978 (or just round 1.3100). There is also 38.2% Fibonacci, which will most likely attract the price of a breakthrough and will accrue new sales. Breakthrough from these levels will raise the price to 50% Fibonacci, from where the road looks clean for 200 periods at 1.3176.
What supports this plan is Oil, which is in correlation with the Canadian currency - strong oil, a strong currency. In this case, the oil is down by $ 1.39 for the day to $ 55.30.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.