Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
USDCAD Tests Range Support

USDCAD Tests Range Support

Walker England, Forex Trading Instructor

Talking Points

  • The USDCAD tests support
  • Today’s S3 pivot is located at 1.1929
  • A move above R4 suggests a bullish reversal

USDCAD 30Minute Chart

(Created using FXCM’s Marketscope 2.0 charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The USDCAD has started today’s trading inside of a 55 pip range. Price has recently moved off range support, which is found at the S3 pivot at a price of 1.1929. If price remains range bound, a bounce in price would suggest a return towards values of resistance. A move higher at this point would be contrary to this week’s trend however, as the USDCAD has already declined as much as 225 pips since Monday. Currently, today's range resistance resides at the R3 pivot at 1.1984.

In the event that prices return back in the direction of the trend, traders will watch for a breakout below the S4 pivot at 1.1901. A decline below this point would suggest further weakness for the pair, as prices move towards lower lows. Conversely, a move above the R4 pivot at 1.2011 would also open the USDCAD to the possibility of a breakout. If prices begin to break through key values of resistance, this would suggest a bullish reversal for the pair.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your day trading techniques while tracking the market in real time.

Click HERE to Register Now

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.