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USDCAD analysis on September 28th

28.09.2021

Market Review

Here's USCAD analysis for today:

The overall trend is upward. The currency pair is trading in the range of the price pivot zone of of 1.2600. A bullish divergence has formed on the Awesome Oscillator, and Stochastic Oscillator signals oversold conditions. Probably, the descending pattern is a wave (B) of an ascending pattern of a larger wave level. 

USDCAD rate online: monitor the price movement in real time.
Trading idea:
Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.
Stop Loss under the local minimum of the descending pattern.
Target levels: 1.2820; 1.2890.

Author: GC
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