USD CAD Technical Analysis 5 May 2020
USD CAD Technical Analysis: The USD rose 0.02% against the CAD on Monday and closed at 1.4085. Today in European session while USD CAD technical Analysis 4 May 2020 is preparing at at 6:45 GMT, the USD/CAD trading at 1.4065, which is 0.14% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.4040 and a fall through could take it to the next support level of 1.3995. The pair is expected to find its first resistance at 1.4141, and a rise through could take it to the next resistance level of 1.4197. For today the expected trading range is between 1.3995, Support and 1.4197 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.4040 Support 2: 1.3995, Support 3: 1.3939
Resistance Levels: Resistance 1: 1.4141, Resistance 2: 1.4197, Resistance 3: 1.4242
USD/CAD Buying Opportunity for Intraday Trading 5 May 2020
Buy near the support area 1.4040 and 1.3995 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading 5 May 2020
Sell near the resistance area 1.4141 and 1.4197 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.
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