Analysis of the USDCAD Currency Pair for 06.02.2026

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

06.02.2026.     

USDCAD

       The trend is bearish. The currency pair is trading within the range of the 365 and 135 EMAs. The ascending wave structure is truncated. The Awesome Oscillator shows bearish divergence, and the Stochastic Oscillator indicates overbought conditions.

Trading idea:

Sell on the formation of a bearish wave structure, where wave (A) breaks through the inclined channel of the ascending truncated structure.

Stop Loss – 1.37245.

Target levels – 1.36300; 1.35200.