USD/CAD analysis for July 27, 2018

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Recently, the USD/CAD has been trading sideways at the price of 1.3067. According to the H1 time – frame, I found a breakout of bullish flag pattern in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3092, 1.3120, and at the price of 1.3165.

Resistance levels:

R1: 1.3100

R2: 1.3130

R3: 1.3170

Support levels:

S1: 1.3033

S2: 1.2995

S3: 1.2965

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com