USDCAD

Technical Analysis – USDCAD bullish but pauses rally at 5-month high

Posted on November 15, 2016 at 8:40 am GMT

USDCAD paused a rally that took the pair to a fresh 9-month high of $1.3587 on Monday. This is an important level and is acting as resistance since it is defined by the 50% Fibonacci retracement of the January-May decline from 1.4689 to 1.2460. To the downside, it is important for support at 1.3500 to hold, otherwise a break below this would lead to a fall towards 1.3308 and 1.3200 and would shift the current short-term bullish bias. The technical [..]

FX Daily Outlook | 25-10-16

Posted on October 25, 2016 at 9:20 am GMT

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Technical Analysis – USDCAD Daily makes 7-month high as its breaks out of 1.27-1.33 range

Posted on October 25, 2016 at 7:55 am GMT

USDCAD daily has managed to break out of the 5-month old range of 1.27-1.33 during the previous sessions, as it tested 1.34 by trading up to 1.3396 (Monday’s high and the highest since March). The pair is looking positive as it is trading above the 200-day average (1.3134) and the Relative Strength Index is also bullish at 60. Performing a Fibonacci analysis on the down move from 1.4690 (January high) to 1.2460 (March low), the pair is currently around the [..]

FX Daily Outlook | 21-10-16

Posted on October 21, 2016 at 10:14 am GMT

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Technical Analysis – USDCAD bullish above cloud

Posted on October 21, 2016 at 8:15 am GMT

USDCAD has been on a shallow uptrend since bottoming out at a 10-month low of 1.2460 in early May. The pair has been making higher highs and higher lows and hit a 7-month high of 1.3312 on October 7. Prices are currently above the Ichimoku cloud and the 50- and 200-day moving averages, underlining the bullish outlook in the medium term. However, the flat-lining tenkan-sen and kijun-sen lines suggest the positive bias is tilting towards a neutral one. In the [..]

European Session – US dollar mixed as euro braces for ECB; Loonie firms on BoC

Posted on October 19, 2016 at 2:54 pm GMT

The US dollar was mixed – stronger versus the euro but down against the yen during today’s European trading. The weakness in the euro was pronounced versus other majors, as investors and traders perhaps expected some promises of stimulus extension by the European Central Bank when the bank’s Governing Council meets next tomorrow in Frankfurt. Euro / yen was near a 3-week low as it traded down to 113.10. The yen was strong while European stocks drifted amid weak earnings [..]

Technical Analysis – USDCAD looking for bullish break of key 1.31 level

Posted on September 13, 2016 at 7:29 am GMT

USDCAD briefly popped above the key 1.3100 level on Monday but closed below it on the day. The area around this key psychological 1.31 level is a strong resistance area which has been tested several times this year. Looking at the bigger picture, the pair has been trading within a range between 1.27 and 1.32 since May this year. The flat 50-day and 200-day moving averages are an indication that the overall trend is neutral. In the near term, the [..]

FX Daily Outlook| 01-09-16

Posted on September 1, 2016 at 9:14 am GMT

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Technical Analysis – USDCAD maintains short term bullish bias

Posted on September 1, 2016 at 5:26 am GMT

USDCAD maintains the bullish bias in the short term after bouncing from 1.2762 on August 18. Prices rose to a high of 1.3144 on Wednesday but have found resistance in this area.The market is also currently at an important psychological level at 1.3100, which is just below the 23.6% Fibonacci retracement level (1.3112) of the upleg from 1.2653 to 1.3252. (June 8 – July 27 rise). These levels act as barriers to the upside. The market’s upside momentum was quite [..]

Technical Analysis – USDCAD pauses 9-day decline, remains bearish

Posted on August 19, 2016 at 9:42 am GMT

USDCAD was on a sharp downward trajectory since early August, falling from above $1.31 down to 1.2762 on Thursday. There was a reversal this morning but there are no clear signals yet if this move up can be sustained. The overall picture is quite bearish and RSI is below 50 in bearish territory. Also, the market is below the 200-day moving average (this support the bearish view). USDCAD was on the rise from the June low of 1.2653 to the [..]

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