{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downtrend-but-is-confined-between-levels-1-2840-and-1-3000\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downtrend-but-is-confined-between-levels-1-2840-and-1-3000\/","headline":"USD\/CAD Is in a Downtrend but Is Confined Between Levels 1.2840 and 1.3000","name":"USD\/CAD Is in a Downtrend but Is Confined Between Levels 1.2840 and 1.3000","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward correction as it is confined between levels 1.2840 and 1.3000. The currency pair is trading between the moving average lines. The pair is trading above the 50-day line SMA but below the 21-day line SMA. The market will resume trending when price breaks the moving average lines. […]","datePublished":"2022-07-24","dateModified":"2022-07-24","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/07\/USDCADDaily-Chaart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/07\/USDCADDaily-Chaart.png","height":537,"width":1047},"url":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downtrend-but-is-confined-between-levels-1-2840-and-1-3000\/","about":["Price Action Charts in Focus","USD\/CAD"],"wordCount":293,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward correction as it is confined between levels 1.2840 and 1.3000. The currency pair is trading between the moving average lines. The pair is trading above the 50-day line SMA but below the 21-day line SMA. The market will resume trending when price breaks the moving average lines. For instance, USD\/CAD will resume an uptrend when price breaks above the 21-day line SMA. The market will rise and reach the previous high of 131.00. On the other hand, if the bears break below the 50-day line SMA, the market will decline to level 1.2520. In the meantime, the pair is rising and approaching the high of level 1.2914.USD\/CAD Indicator Analysis USD\/CAD is at level 49 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The currency pair is above the 50-day line SMA but below the 50-day line SMA indicating a possible range-bound move of the market. USD\/CAD is above the 40% range of the daily stochastic. The pair is in a bullish momentum and may further rise. The 21-day line SMA and 50-day line SMA are sloping upward indicating the uptrend.USD\/CAD \u2013 Daily ChartTechnical indicators: Major Resistance Levels \u2013 1.3300, 1.3400, 1.3500Major Support Levels \u2013 1.2300, 1.2200, 1.2100What Is the Next Direction for USD\/CAD?USD\/CAD is in a range-bound move but is confined between levels 1.2840 and 1.3000. The pair will be confined between the moving average lines. A break below or above the moving average lines will determine the direction of the market.USD\/CAD \u2013 4 Hour ChartNote: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results"}