How To Make Money Today: USD/CAD Daily Market Analysis and Forex Trading Signals 1 April 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
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USD/CAD:
On the weekly, with price expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 1.29626 in line with the swing high resistance towards our 1st support level at 1.23427 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 1.33953.
On the Daily, with price expected to bounce off the support of the stochastics indicator, we have a bias that price will rise to our 1st resistance at 1.28819 in line with the swing high resistance from our 1st support at 1.24737 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support at 1.23130.
On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that price will rise to our 1st resistance at 1.25967 in line with the 38.2% Fibonacci retracement from our 1st support at 1.24617 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support at 1.23886 in line with the 161.8% Fibonacci extension.
Areas of consideration:
- H4 time frame, 1st support at 1.24617
- H4 time frame, 1st resistance at 1.25967
USD/CAD will fall to 1.24 in three months — Rabobank
The majority of the CAD’s recent gains have occurred in recent sessions, with the USD/CAD pair losing value in 14 of the past 16 trading days. Rabobank economists forecast the pair to drift down around 1.24 during the next quarter.
USD/CAD has room to grow over 1.26 in the second half of 2022.
“We have updated our USD/CAD estimates downward to 1.25 for the next month and to 1.24 for the next three months. This is due to a trinity of variables. To begin, the aggressive repricing of the curve’s front end. Second, there is the likelihood that higher oil prices will endure, with a recovery to 125 expected. Thirdly, there is the possibility that CAD will catch up on the crosses.”
“We must emphasize a big risk to our short-term USD/CAD downward call: the possibility of safe-haven flows pushing the USD higher. Further out, we believe USD/CAD has space to surge back above 1.26, and we remain bullish on the USD in general.”
USD/CAD
| OVERVIEW | |
|---|---|
| Today last price | 1.2519 |
| Today Daily Change | 0.0037 |
| Today Daily Change % | 0.30 |
| Today daily open | 1.2482 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.2658 |
| Daily SMA50 | 1.2683 |
| Daily SMA100 | 1.2695 |
| Daily SMA200 | 1.2617 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.2508 |
| Previous Daily Low | 1.243 |
| Previous Weekly High | 1.2624 |
| Previous Weekly Low | 1.2466 |
| Previous Monthly High | 1.2878 |
| Previous Monthly Low | 1.2636 |
| Daily Fibonacci 38.2% | 1.246 |
| Daily Fibonacci 61.8% | 1.2478 |
| Daily Pivot Point S1 | 1.2438 |
| Daily Pivot Point S2 | 1.2395 |
| Daily Pivot Point S3 | 1.236 |
| Daily Pivot Point R1 | 1.2517 |
| Daily Pivot Point R2 | 1.2552 |
| Daily Pivot Point R3 | 1.2596 |
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