USDCAD Daily Analysis – January 23, 2020

by ForexCycle.com | January 23, 2020 3:39 am
USDCAD extended its upside movement from 1.2951 to as high as 1.3160. Further rise is still possible and next target would be at 1.3200 area. Near term support is at 1.3120, below this level could bring the...

USDCAD Daily Analysis – January 22, 2020

by ForexCycle.com | January 22, 2020 4:12 am
USDCAD broke above 1.3079 resistance, suggesting that the uptrend from 1.2951 has resumed. Further rise could be expected and next target would be at 1.3150 area. Key support is at 1.3028, a breakdown below this level could...

USDCAD Daily Analysis – January 21, 2020

by ForexCycle.com | January 21, 2020 3:29 am
USDCAD continued its sideways movement in a trading range between 1.3028 and 1.3079. The price action in the range is likely consolidation for the downtrend from 1.3104, further decline to 1.2950 area is possible after the consolidation....

USDCAD Daily Analysis – January 20, 2020

by ForexCycle.com | January 20, 2020 3:44 am
USDCAD failed to break below 1.3028 support and moved sideways in a trading range between 1.3028 and 1.3079. As long as 1.3079 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3104,...

USDCAD Weekly Analysis – January 19, 2020

by ForexCycle.com | January 19, 2020 1:09 pm
USDCAD remains in the downtrend from 1.3382, the bounce from 1.2951 is likely consolidation for the downtrend. Further decline is possible and next target would be at 1.2800 area. Near term resistance is at 1.3110, a break...

USDCAD Daily Analysis – January 17, 2020

by ForexCycle.com | January 17, 2020 3:30 am
USDCAD is testing 1.3028 support, a breakdown below this level could signal resumption of the downtrend from 1.3104, then further decline towards 1.2950 could be seen. Near term resistance is at 1.3080, a break of this level...

USDCAD Daily Analysis – January 16, 2020

by ForexCycle.com | January 16, 2020 2:55 am
USDCAD is facing 1.3028 support, a breakdown below this level could take the price to 1.2950 area. Near term resistance is at 1.3080, a breakout of this level could signal resumption of the uptrend from 1.2951, then...

USDCAD Daily Analysis – January 15, 2020

by ForexCycle.com | January 15, 2020 3:59 am
No changed in our view, USDCAD is now in the downtrend from 1.3104, another fall towards 1.2950 would likely be seen in the coming days, and a breakdown below 1.3028 support could signal resumption of the downtrend....

Strong Labor Market and High Inflation Supports Canadian Dollar

by elliottwave-forecast.com | January 14, 2020 3:33 pm
Bank of Canada will have its first rate meeting this year on January 22. Recent strong jobs data and high inflation likely allows BOC to maintain a steady rate. Latest jobs report from Canada shows a strong...

USDCAD Daily Analysis – January 14, 2020

by ForexCycle.com | January 14, 2020 5:10 am
USDCAD is now in the downtrend from 1.3104, further decline would likely be seen in a couple of days and next target would be at 1.2980 area. Resistance is at 1.3104, only break above this level could...