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Day trading is a style of trading where financial instruments such as stocks, currencies, commodities, or options are bought and sold within the same trading day. The key characteristic of day trading is that all positions are closed before the market closes for the day, preventing the trader from holding any overnight positions. This distinguishes day trading from other strategies like swing trading or long-term investing, where assets may be held for days, weeks, or even years.
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USD/CAD Intraday: the upside prevails as long as 1.3805 is support
USD/CAD (USD/CAD)
+0.00693+0.51%
the upside prevails as long as 1.3805 is support.
Our pivot point stands at 1.3805.
Our preference: the upside prevails as long as 1.3805 is support.
Alternative scenario: below 1.3805, expect 1.3778 and 1.3762.
Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3825 and 1.3820).
Supports and resistances:
1.3922 **
1.3905 *
1.3889 **
1.3873
1.3832 last
1.3816
1.3805 **
1.3778 *
1.3762 **
Our preference: the upside prevails as long as 1.3805 is support.
Alternative scenario: below 1.3805, expect 1.3778 and 1.3762.
Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3825 and 1.3820).
Supports and resistances:
1.3922 **
1.3905 *
1.3889 **
1.3873
1.3832 last
1.3816
1.3805 **
1.3778 *
1.3762 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
