USD/CAD is still in the bearish trend that has been in place since the 1.4668 high from March 19th of last year. That said, price action during the past month has illustrated a clear slowdown in terms of bearish momentum, and economists at Rabobank would argue the pair is now entering a consolidation phase. USD/CAD to begin a new period of consolidation in the 1.25-1.27 range “In order for us to confirm the clear bearish phase is over and that we are moving to a new phase we need to see a confirmed close above the 100-day moving average at 1.269. Before that, the 50-day moving average at 1.2605 marks the immediate upside resistance level to break having held price action since November. The region just above the 1.26 handle also coincides with the bearish trendline in place for the past year.” “We expect a period of sideways trading within the 1.25 to 1.27 range rather than the start of a new bullish or bearish trend.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Dollar shrugs off yields’ decline, gold shines, consumer confidence eyed FX Street 2 years USD/CAD is still in the bearish trend that has been in place since the 1.4668 high from March 19th of last year. That said, price action during the past month has illustrated a clear slowdown in terms of bearish momentum, and economists at Rabobank would argue the pair is now entering a consolidation phase. USD/CAD to begin a new period of consolidation in the 1.25-1.27 range "In order for us to confirm the clear bearish phase is over and that we are moving to a new phase we need to see a confirmed close above the 100-day moving average… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
