FX.co ★ KHALISA | USD/CAD

USDCAD DAILY 2 NOV 2026

Hello, good morning, everyone. How are you today? Stay motivated! Let's prepare a trading plan and execute it accordingly to ensure consistent results. This time, we'll discuss the USDCAD pair. Here's today's analysis. On the daily timeframe, a sharp decline has been observed over the past few days. The price, which previously surged to 1.43000 in early October, has now been under pressure, falling to 1.39716. It even experienced a prolonged consolidation phase between 1.40049 and 1.40665, marked by the green box on the chart. This area acted as a support from October 15th to 20th, but the price continued to decline and even fell below the red 50-day moving average (MA50) and the middle Bollinger Band. The 50-day moving average (MA50) is currently around 1.40100, and the price has already fallen below it, indicating that medium-term selling pressure is beginning to dominate again after the previous uptrend was broken. This downtrend is also clearly confirmed by the selling sentiment on the MACD indicator. The bottom panel shows the MACD 12,24,8, with a histogram that has fallen below the zero line, specifically at -0.0031444, with the signal line at -0.001893. The histogram, which had been high above zero since mid-September, has now turned negative and continues to decline. This condition supports the potential for a long-term decline, as bullish momentum has run out and bears are beginning to take over. Furthermore, the Bollinger Bands are starting to widen downwards, and the price is moving within the lower band around 1.38900, indicating that downward volatility remains quite high. What I'm observing is that the supply area or previous consolidation area at 1.40049 to 1.40665 is an ideal area to look for selling opportunities. This green area represents former support that has now turned into resistance, and within it is also the confluence of the 50-day moving average (MA50) and the middle Bollinger band. Therefore, if the price rises again to retest the 1.40049 area, it would be a good opportunity to seek sell confirmation with a rejection candle. As for the target, the psychological support level of 1.38000 seems quite realistic, in line with the downward arrow projection on the chart and also the previous lower Bollinger Band area. Meanwhile, the stop-loss can be placed above the 1.40665 zone, slightly above the last consolidation high, to protect against fakeouts. That concludes today's brief journal. I hope it's helpful for those of you trading USDCAD. Stay disciplined with your plan and remember to maintain risk management.