Jump to content

Market Technical Analysis by RoboForex


Recommended Posts

USDCAD: US business activity on the brink – what lies ahead for the market

Weakened business activity in Chicago and Dallas could trigger a fall in the USDCAD rate to 1.4260 following a correction. Discover more in our analysis for 31 March 2025.

USDCAD technical analysis

On the H4 chart, the USDCAD price formed an Inverted Hammer reversal pattern near the lower Bollinger band. At this stage, it continues its upward trajectory following the signal received. Since the price remains within a descending channel, a correction towards the nearest resistance level at 1.4360 is expected. If the price rebounds from this resistance, a downtrend may develop.

usdcad-2025-03-31.thumb.png.1eb90847ebea5d07450f69b5de1e8d51.png

Weak US economic indicators, combined with USDCAD technical analysis, suggest that the pair may continue its downward trajectory once the correction is complete.

Read more - USDCAD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...