NEWS: USD/CAD price increased 0.6%. The pair is moving higher due to a stronger US Dollar and higher oil prices.
Possible Scenarios:
If USD/CAD fails to breach through R2 of 1.28446, our Research Department expects the USD/CAD to undergo a short-term downward correction.
If USD/CAD manages to break above its R2 of 1.28446, our Research Department expects the USD/CAD to extend its gains to its R3 of 1.28754.
Support and Resistance Levels:
USD/CAD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.26698 |
1.27006 |
1.27315 |
1.27726 |
1.28137 |
1.28446 |
1.28754 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $13.65 |
(+/-) €11.23 |
(+/-) £10.14 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.21532
***GBP/USD = 1.34656
Calculations for exchange rate used as of 13:35 (GMT) 11/01/2021