Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
20 Apr 2021

USD/CAD Price Analysis: Rounding top on 4H keep sellers hopeful around 1.2500

  • USD/CAD stays depressed near intraday low inside a bearish chart formation.
  • A confluence of 200 and 100 SMAs will test recovery moves, sellers can eye March low.
  • Downbeat Momentum, failures to recover back sellers but a clear break of 1.2470-65 should provide extra strength to the sellers.

USD/CAD remains pressured around 1.2495, down 0.31% intraday, while heading into Tuesday’s European session. In doing so, the loonie pair teases confirmation of the rounding top bearish chart pattern on the four-hour (4H) play.

Given the downbeat Momentum indicator and the quote’s inability to cross 100 and 200-SMA confluence during the bounce-off two-month-old support area, USD/CAD is likely to confirm the bearish technical formation.

However, a clear break below 1.2470-65 should offer extra positives for the USD/CAD bears targeting March lows near 1.2365. During the fall, the 1.2400 round figure may offer an intermediate halt.

Alternatively, a clear upside break of the key SMA confluence near 1.2555-60 will target the late March top surrounding 1.2650. Though, 61.8% Fibonacci retracement level of February 28 to March 18 downside, near the 1.2600 trhreshold, will act as an intermediate halt during the rally.

Overall, USD/CAD is on a bearish trajectory but needs confirmation for further weakness.

USD/CAD four-hour chart

Trend: Bearish

 

Apr 20, 2021

FX option expiries for Apr 20 NY cut

FX option expiries for Apr 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.1895 519m 1.1925 810m 1.1940 854m 1
Read more Previous
Apr 20, 2021

Forex Today: Dollar and cryptos extend decline, virus and infrastructure news eyed

Here is what you need to know on Tuesday, April 20: Markets are calm after a decline on Monday but the dollar remains depressed. Mixed news about the
Read more Next