USDCAD Downtrend Channel (Nov 24, 2016)
USDCAD appears to be starting a new trend down, creating a downtrend channel on its 1-hour time frame. Price just bounced off the 1.3400 support area and is making its way back up to the resistance at...
Tag: USDCAD
USDCAD Reversal Signal (Nov 22, 2016)
USDCAD seems to be tired from its climb, as a double top pattern formed on its 1-hour time frame. Price is still testing the neckline at the 1.3400 major psychological level before conrfirming this reversal signal. A...
USDCAD Daily Analysis – November 22, 2016
USDCAD’s downward movement from 1.3588 extended to as low as 1.3386. Further decline could be expected in a couple of days, and next target would be at 1.3250 area.
USDCAD Daily Analysis – November 21, 2016
USDCAD failed to break above 1.3588, indicating that the pair remains in downtrend from 1.3588. Deeper decline is possible, and the target would be at 1.3250 area. On the upside, a break of 1.3588 resistance will signal...
USDCAD Weekly Analysis – November 20, 2016
USDCAD’s upward movement from 1.2460 extended to as high as 1.3588. Support is now at 1.3264, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3800 area....
USD/CAD Forecast November 21, 2016, Technical Analysis
The USD/CAD pair struggled a bit during the day on Friday as we continue to meander around the 1.35 handle. Ultimately though, this is a market that has quite a bit of bullish pressure underneath, and as...
USD/CAD Forecast November 18, 2016, Technical Analysis
The USD/CAD pair went back and forth on Thursday as we found a bit of support at the 1.34 level below. I think that the market should continue to go higher, perhaps reaching towards the 1.35 handle...
USDCAD Daily Analysis – November 18, 2016
USDCAD is facing 1.3588 resistance, a break of this level will indicate that the uptrend from 1.3005 has resumed, then next target would be at 1.3700 area. On the downside, as long as 1.3588 resistance holds, the...
USD/CAD Forecast November 17, 2016, Technical Analysis
The US dollar initially rallied against the Canadian dollar returned around for a bit of a shooting star. This is a market that continues to grind higher overall though, so I’m waiting to see whether or not...
USDCAD Short-Term Pullback (Nov 16, 2016)
USDCAD recently broke past the 1.3500 major psychological resistance and climbed close to the 1.3600 mark before pulling back. Applying the Fib tool on the latest swing low and high shows that the 50% level lines up...