Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

USDCAD stays mostly on the lower side of the 50% midpoint today

A.R Chowdhury by A.R Chowdhury
September 10, 2021
Reading Time: 2 mins read
0
USDCAD stays mostly on the lower side of the 50% midpoint today

Swing area below at 1.2638 to 1.26527 eyed below

The USDCAD moved sharply higher yesterday in early North American trading. And in the process extended above its 50% midpoint of the range since the August 20 high. That level comes in at 1.27204. The high price squeezed up to 1.27611, but just as fast as it went up, it came back down with the same speed. The price bottomed near the low reached seconds after the BOC interest rate decision, and the price moved higher into the close (and near mid range). 

Swing area below at 1.2638 to 1.26527 eyed below

Today, the move to the upside continued with the price extending back toward the 50% retracement. The high for the day did reach above the midpoint level to a high of 1.27265. But the price has since moved back to the downside and returned to the broken 38.2% retracement 1.2666. That is above a lower swing area between 1.2638 and 1.26527. The price is now negative on the day in what is a up and down session so far.

What next?

The 38.2% retracement will be a close barometer. Buyers against the level will likely tilt to sellers on a dipped back below the level. On a move below, the 1.2638 to 1.26527 is the next hurdle. Move below and the rising 100 and 200 hour moving averages at 1.26014 (call it 1.2600) would be the next major target.

Conversely if support is able to hold here getting back above 1.2706 (see green numbered circles) and the 50% at 1.27204 would be the upside hurdles.

Invest in yourself. See our forex education hub.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post
USDJPY rotate back below the moving average levels and re-approaches 100 day MA

USDJPY rotate back below the moving average levels and re-approaches 100 day MA

EURUSD backs off from its 200 hour moving average

EURUSD backs off from its 200 hour moving average

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

New lows for the Nasdaq and S&P indices

August 7, 2020

EURGBP spikes to a new session high

July 14, 2020

USDCAD trades back above 200 day MA but fails

June 9, 2020

Popular Stories

  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • What is CFD trading?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.