In view of FX Strategists at Scotiabank, the pair’s near term outlook leans towards the neutral side for the time being. Key Quotes “USDCAD remains unable to deliver sustained weakness below the psychologically important 1.3000 level”. “Thursday’s gains are following Wednesday’s doji candle (signaling uncertainty) and could potentially allow for the completion of a bullish ‘morning star’ formation”. “Trend and momentum indicators are only modestly bearish. Support has been observed around the lower bound of the descending trend channel from late June, just above the 100 day MA. Near-term resistance is expected above 1.3080″. 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 GBP/USD Technical Analysis: Consolidating losses below 1.3075 level FX Street 5 years In view of FX Strategists at Scotiabank, the pair's near term outlook leans towards the neutral side for the time being. Key Quotes "USDCAD remains unable to deliver sustained weakness below the psychologically important 1.3000 level". "Thursday's gains are following Wednesday's doji candle (signaling uncertainty) and could potentially allow for the completion of a bullish 'morning star' formation". "Trend and momentum indicators are only modestly bearish. Support has been observed around the lower bound of the descending trend channel from late June, just above the 100 day MA. Near-term resistance is expected above 1.3080". 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.
