USDCAD Broke below Channel Support
USDCAD broke below the bottom trend line at 1.3435 of the price channel on its daily chart, suggesting that the uptrend started from the January 31 low of 1.2968 had completed at the May 5 high of...
Tag: USDCAD
USD/CAD Forecast June 13, 2017, Technical Analysis
The US dollar went back and forth with a general negative attitude during the day on Monday. We continue to see the Canadian dollar enjoy strength due to the stronger-than-expected employment figures last week, but ultimately, I...
USDCAD Daily Analysis – June 13, 2017
After consolidation, USDCAD broke below 1.3387 major support and continued its bearish movement from 1.3793. Further decline could be expected over the next several days and next target would be at around 1.3200. Near term resistance is...
USDCAD Daily Analysis – June 12, 2017
USDCAD failed to break above 1.3540 resistance and stays in the trading range between 1.3387 and 1.3540. As long as 1.3540 resistance holds, the price action in the range could be treated as consolidation of the downtrend...
USD/CAD Forecast June 12, 2017, Technical Analysis
The US dollar fell precipitously against the Canadian dollar after initially being very stable during the day on Friday. This was in reaction to a much stronger than anticipated employment number coming out of Canada, and this...
USDCAD Weekly Analysis – June 10, 2017
USDCAD is testing the support of the bullish price channel on its daily chart. A clear break out of the channel support will indicate that the uptrend from 1.2968 had completed at 1.3793 already, then deeper decline...
USD/CAD Forecast June 9, 2017, Technical Analysis
The US dollar fell a bit against the Canadian dollar during the session on Thursday, but found enough support near the 1.3480 level to turn things around and start going higher again. After the impulsive move on...
USDCAD Daily Analysis – June 9, 2017
USDCAD is facing 1.3540 resistance. As long as this level holds, the price action from 1.3387 could be treated as consolidation of the downtrend from 1.3793 and another fall towards 1.3200 could be expected after the consolidation....
USD/CAD Forecast June 8, 2017, Technical Analysis
The USD/CAD pair initially went sideways during the session on Wednesday, and even managed to drop down to the 1.3425 handle at one point. Having said that, the market then broke out to the upside after the...
USDCAD Daily Analysis – June 8, 2017
USDCAD failed to break below 1.3387 support and stays in the trading range between 1.3387 and 1.3540. The pair is now facing 1.3540 resistance, a clear break of this level will indicate that the downtrend from 1.3793...