analytics606d500a3bede.jpg

USD/CAD increases aggressively being located at 1.2602 level at the time of writing after failing to extend its decline.

As you already know from my previous analyses, USD/CAD could develop an upside reversal if it escapes from the major down channel. Now is traded above the downtrend line, but we still need confirmation that the pair will develop strong upwards movement.

Jumping and stabilizing above 1.2639 former high may validate further growth ahead and could bring a new buying opportunity.

Trading Conclusion!

We may have a good buying opportunity if the rate jumps above 1.2639 former high. 1.2700 psychological level could be used as a first upside target.

The material has been provided by InstaForex Company – www.instaforex.com

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.