USD/CAD is trading at 1.2863 level and it could drop deeper to approach 1.28 psychological level. I’ve told you in a previous analysis that a drop under 1.2940 static support, a lower low, could announce a broader decline and could bring a selling opportunity.

The pair is located in the seller’s territory as long it stays somewhere under the 1.2940 – 1.2900 area. Technically, USD/CAD was expected to drop towards 1.2750, or lower towards 1.27 after escaping from the symmetrical triangle chart pattern.

  • USD/CAD Trading Conclusion

USD/CAD has retested the 1.2940 level, support, signaling further drop. It could continue towards 1.28, 1.27 level in the upcoming period.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.