empty
08.03.2023 07:25 AM
Technical Analysis Of Daily Price Movement Of USD/CAD Commodity Currency Pairs, Wednesday, March 08 2023.

This image is no longer relevant

There is a few interesting things on the daily chart USD/CAD commodity currency pairs:

1. The appearance of three Wiseman signal.

2. There is a deviation between price movement with Awesome Oscillator indicator.

3. The price moves above the open Alligator gaping upwards.

4. The appearance of Bullish 123 pattern follow by 2 or Ross Hook (RH).

Based on the facts above we can predicted in a few days ahead that the Loonie will try to tested level 1,3977. However if on its way to to those levels suddenly corrected down below the level of 1,3554 the Bulls scenario that has been described earlier will become invalid and cancel by itself.

(Disclaimer)

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for May 20, 2025

Following Moody's downgrade of the U.S. credit rating from AAA to Aa1 on Friday, yesterday saw downgrades of major U.S. banks as well—Bank of America, JPMorgan, and Wells Fargo—from

Laurie Bailey 05:08 2025-05-20 UTC+2

GBP/USD Forecast for May 20, 2025

The British pound closed Monday with an 81-pip gain. The price consolidated above the 1.3311 resistance level and is now heading toward 1.3433. A breakout above this level opens

Laurie Bailey 05:08 2025-05-20 UTC+2

EUR/CAD Forecast for May 20, 2025

With a strong upward move yesterday, the EUR/CAD pair broke above both indicator lines (balance and MACD ) and the 200% Fibonacci reaction level. Today's session also opened above these

Laurie Bailey 05:08 2025-05-20 UTC+2

Oil Forecast for May 20, 2025

Yesterday's rise in oil was technically weak—neither the MACD line nor the embedded line of the descending price channel was reached. The daily close occurred below the balance line

Laurie Bailey 05:08 2025-05-20 UTC+2

EUR/USD. Analysis and Forecast

At the start of the new week, the EUR/USD pair has gained upward momentum on the back of a weaker US dollar. From a technical standpoint, last week's break below

Irina Yanina 17:58 2025-05-19 UTC+2

Trading Signals for EUR/USD for May 19-21, 2025: sell below 1.1285 (200 EMA - GAP)

Our trading plan for the coming hours is to sell the euro below the top of the downtrend channel, with targets at 1.1189, and to cover the gap left last

Dimitrios Zappas 14:30 2025-05-19 UTC+2

Trading Signals for GOLD for May 19-21, 2025: sell below $3,247 (200 EMA - GAP)

Gold left another gap on May 8 around 3,325 and is likely to break above 3,250. The outlook could be bullish, and we could expect it to cover this

Dimitrios Zappas 14:29 2025-05-19 UTC+2

Forex forecast 19/05/2025: EUR/USD, GBP/USD, USD/JPY, USD/CAD, Gold, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:52 2025-05-19 UTC+2

EUR/USD. May 19th. The Euro Remains Under Pressure

On Friday, the EUR/USD pair continued its moderate decline. A close below the 127.2% Fibonacci level at 1.1181 was recorded, but bears failed to build on that success. The current

Samir Klishi 10:45 2025-05-19 UTC+2

Forecast for GBP/USD on May 19, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Friday, fluctuating between the levels of 1.3205 and 1.3344. Following a rejection from the resistance zone of 1.3344–1.3357

Samir Klishi 10:36 2025-05-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.