CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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24.07.202018:18 Forex Analysis & Reviews: USDCAD continues lower following our bearish signal

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USDCAD gave us a bearish signal when price broke down and out of the sideways trading range it was in. When price broke below 1.35 we called for a bearish signal. Now price is at 1.3420 after making a new low at 1.3350.

Exchange Rates 24.07.2020 analysis

Black lines - trading range

USDCAD traders can now lower their stops to the entry level of 1.35 for a risk free trade. Trend remains bearish as price is making lower lows and lower highs. We continue to expect price to move lower still as long as we do not break above 1.35 again. Next downside target is at 1.32.

Alexandros Yfantis
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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