USDCAD going to bounce back from the higher low of Uptrend line

USDCAD Uptrend hourly chart analysis

USDCAD is moving in an Uptrend by forming higher highs, higher lows in 1-hour time frame chart.

Now, the USDCAD market price reached the bottom zone (higher low) of the Uptrend line. 

We can expect a bounce back from this zone.

Federal reserve FED building with US flag

Upcoming FED policy will smooth Nasdaq 100 and S&P500.

FED committee kept interest rate lower and further stimulus will support the US economy.

Policymakers expect FED rate will normalize at 2.5% after 2022. Lack of progress in congress stimulus talks will hurt the US dollar to decline more. Anyhow, upcoming meeting from FED policy will give hints on economic projections for next quarter.

The central bank already committed to using a full range of tools to support the US economy. 

The macro-economic environment may continue to support Gold and Fed’s balance sheet widens to $7 trillion in August.

Get Each forex signal with Chart Analysis and Reason for buying or selling the trade which helps you to Trade with confidence on your trading account.

If you like to receive more best forex signals and analysis at an accurate time, subscribe to premium or supreme signal plan here:


Forex GDP team provides High Quality Forex signals services exclusively to all type of traders around the world. Each signal given with chart analysis that helps you to trade with confidence on your account. Forex GDP team worked with Major banks, Financial Institutions, Liquidity providers, Forex brokers in different job positions such as Equity Dealer, Fund Manager, Senior Market Analyst, Risk Manager and other major roles in Forex Trading Companies. Try free now to see the quality trades on your account.