Analysis of the USDCAD currency pair for October 16, 2026

16.10.2026

Market Review

Currency pair analysis based on modified wave analysis, Fibonacci levels, and price channels.

October 16, 2026

USDCAD

The trend is upward. The currency pair is trading between the 365 EMA and the 135 EMA. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates an oversold condition. The downward wave structure is truncated.

Trading idea:

Buy upon the formation of an upward wave structure, where wave (A) breaks through the trendline (inclined channel) of the truncated downward structure.

Stop Loss – 1.4169.

Target levels – 1.4210; 1.4270.

Author: GC

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