{"id":19921,"date":"2021-12-21T06:33:00","date_gmt":"2021-12-21T06:33:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=19921"},"modified":"2021-12-21T10:47:22","modified_gmt":"2021-12-21T10:47:22","slug":"usdcad-technical-analysis-1-3000-breakout-incoming","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-1-3000-breakout-incoming\/","title":{"rendered":"USDCAD Technical Analysis &#8211; 1.3000 Breakout Incoming"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19921\" class=\"elementor elementor-19921\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ef259c0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ef259c0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-08ab7f3\" data-id=\"08ab7f3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b725b2a elementor-widget elementor-widget-text-editor\" data-id=\"b725b2a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The US dollar is breaking to a new monthly high against the Canadian dollar, following a move lower in oil prices due to the US Democratic Party\u2019s failure to secure the Build Back Better deal over the weekend.<\/p><p>For now, things look pretty bullish for the <a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">USDCAD<\/a> pair from a technical and fundamental perspective. The recent move by the FED to double tapering, and potentially end the program by March is likely to keep the buck bid.<\/p><p>Certainly, the Bank of Canada is a consideration when trading this pair because the central bank is likely to raise rates next year, as Canadian policymakers announce that every meeting is a \u201clive one\u201d.<\/p><p>The central bank is not shy in expressing that inflation expectations are starting to become unanchored, and this is likely to be a big concern, and a reason to raise rates, despite Omicron.<\/p><p>Currency markets are forward, looking, but with the BoC meeting five weeks away, the US dollar has significant room to run higher. The <a href=\"https:\/\/bit.ly\/3IMUkUF\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> is not yet starting to show signs of upside exhaustion and is likely to break to new highs.<\/p><p>Additionally, as Omicron rages, USDCAD and <a href=\"https:\/\/bit.ly\/3EXWGOj\" target=\"_blank\" rel=\"noopener\">crude oil<\/a> could take a meaningful dive lower. If we see oil prices falling sharply, and the US dollar index breaking to new highs then the USDCAD posting further gains seems highly likely.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5a55ea1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5a55ea1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-839f61e\" data-id=\"839f61e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-afaa40e elementor-widget elementor-widget-image\" data-id=\"afaa40e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"455\" height=\"167\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-chart-5.jpg\" class=\"attachment-large size-large wp-image-19930\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-292f197 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"292f197\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6fe2b39\" data-id=\"6fe2b39\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e1b0594 elementor-widget elementor-widget-text-editor\" data-id=\"e1b0594\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Relatively high levels of negative sentiment are currently being seen towards the USDCAD pair, with some 60 percent of traders holding a negative view towards the USDCAD pair. This bearish sentiment bias is a warning of more short-term gains ahead.<\/p><p><strong>USDCAD Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that a large, inverted head and shoulders pattern continues to form, with a push above the 1.2950 level needed to ignite the bullish price pattern.<\/p><p>Significant upside potential exists if we measure the pattern from neckline to floor, with the pattern holding an upside target that extends towards the 1.3200 support area. Watch out for further gains if the inverted head and shoulders pattern plays out.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c2a57a1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c2a57a1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e42541a\" data-id=\"e42541a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0168364 elementor-widget elementor-widget-image\" data-id=\"0168364\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"527\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-4h-3.jpg\" class=\"attachment-large size-large wp-image-19931\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-344a77ba elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"344a77ba\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6d35c982\" data-id=\"6d35c982\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-17c1b9f0 elementor-widget elementor-widget-text-editor\" data-id=\"17c1b9f0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3d9ff3e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3d9ff3e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-820674d\" data-id=\"820674d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1fecf54 elementor-widget elementor-widget-text-editor\" data-id=\"1fecf54\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>USDCAD Medium-Term Technical Analysis<\/strong><\/p><p>A massive, inverted head and shoulders pattern has formed, which could spell the start of a powerful new bullish trend in the USDCAD pair. This could also hint that oil prices are heading lower.<\/p><p>Much will depend on oil prices and the breakout in the US dollar index over the coming days to determine whether the massive pattern, with over 600 points of upside potential is ignited to the upside.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c2b22da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c2b22da\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-05fc7de\" data-id=\"05fc7de\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-81b4348 elementor-widget elementor-widget-image\" data-id=\"81b4348\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"527\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/usdcad-1d-6.jpg\" class=\"attachment-large size-large wp-image-19932\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-36173027 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"36173027\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b3fa69b\" data-id=\"b3fa69b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77495d03 elementor-widget elementor-widget-text-editor\" data-id=\"77495d03\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar is breaking to a new monthly high against the Canadian dollar, following a move lower in oil prices due to the US Democratic Party\u2019s failure to secure the Build Back Better deal over the weekend. For now, things look pretty bullish for the USDCAD pair from a technical and fundamental perspective. The [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":19927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[206,64,40,31],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDCAD Technical Analysis - 1.3000 Breakout Incoming - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-1-3000-breakout-incoming\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDCAD Technical Analysis - 1.3000 Breakout Incoming USDCAD Technical Analysis - 1.3000 Breakout Incoming\" \/>\n<meta property=\"og:description\" content=\"The US dollar is breaking to a new monthly high against the Canadian dollar, following a move lower in oil prices due to the US Democratic Party\u2019s failure to secure the Build Back Better deal over the weekend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-1-3000-breakout-incoming\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-21T06:33:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-21T10:47:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/gettyimages-453054735.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"458\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"USDCAD Technical Analysis - 1.3000 Breakout Incoming USDCAD Technical Analysis - 1.3000 Breakout Incoming\" \/>\n<meta name=\"twitter:description\" content=\"The US dollar is breaking to a new monthly high against the Canadian dollar, following a move lower in oil prices due to the US Democratic Party\u2019s failure to secure the Build Back Better deal over the weekend.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-1-3000-breakout-incoming\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-1-3000-breakout-incoming\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDCAD Technical Analysis &#8211; 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