USDCAD
forex_trader_338100
Miembro desde Jun 21, 2016
posts 898
Apr 10, 2017 at 19:28
USD/CAD is up 0.08% at 1.3420 and a break above 1.3452 (high Apr.6) would aim for 1.3457 (high Apr.4) and then 1.3496 (high Mar.14). On the flip side, the immediate support aligns at 1.3340 (low Apr.7) followed by 1.3319 (38.2% Fibo of the 2017 upside) and finally 1.3290 (100-day sma).
forex_trader_338100
Miembro desde Jun 21, 2016
posts 898
Apr 14, 2017 at 08:15
Immediate support is pegged near the 1.3300 handle, below which the pair is likely to drift back to 1.3285 confluence support area (comprising of 50-day and 100-day SMAs). A follow through selling pressure back below this important support might continue dragging the pair towards 1.3245-40 horizontal support ahead to the 1.3220 important support (200-day SMA).
Miembro desde Oct 02, 2014
posts 909
Apr 14, 2017 at 08:38
USD/CAD found support at 1.3224 and is now trading a bit higher at 1.3317. We might see the pair consolidate ahead of today's US data.
Positivity
forex_trader_338100
Miembro desde Jun 21, 2016
posts 898
Apr 20, 2017 at 13:47
USDCAD is gaining 0.01% at 1.3485 facing the immediate resistance at 1.3496 (high Mar.14) seconded by 1.3536 (2017 high Mar.9) and then 1.3601 (high Dec.28 2016). On the other hand, a breakdown of 1.3462 (low Apr.20) would open the door to 1.3369 (20-day sma) and finally 1.3294 (55-day sma).
forex_trader_338100
Miembro desde Jun 21, 2016
posts 898
Apr 21, 2017 at 09:43
USDCAD is losing 0.03% at 1.3466 and a breakdown of 1.3454 (low Apr.20) would open the door to 1.3402 (23.6% Fibo of the January-March up move) and finally 1.3373 (20-day sma). On the upside, the next hurdle is placed at 1.3501 (high Apr.20) seconded by 1.3536 (2017 high Mar.9) and then 1.3601 (high Dec.28 2016).
Miembro desde Oct 02, 2014
posts 909
Apr 23, 2017 at 12:36
Good move week. I expect the pair to depreciate with about 80-120 pips.
Positivity
Apr 25, 2017 at 10:24
Right now I agree that it is possible to open a short position. It seems that the impulse of growth is coming to the end. It would be logical if the rates reached 1.3600, but it seems to me that this is unlikely. I expect a decline to the level of 1.3400
Surrealism!
Apr 25, 2017 at 10:27
The US dollar paused its bullish run against its Canadian counterpart over the last hours, sending USD/CAD in a phase of upside consolidations near four-month highs reached at 1.3560.
The spot rallied hard in Asia, after the bulls found renewed bids near 1.35 heads in the overnight trades. The Canadian dollar witnessed aggressive selling amid reports that the Trump administration plans to impose 20% tariff on soft lumber imports from Canada.
USD/CAD Technical levels
Analysts at Brown Brothers Harriman offered their technical outlook, “The technical indicators point to additional US dollar strength, with CAD1.36 being the next obvious target. In addition to corresponding to the highs from Q4 16, it is also the 50% retracement objective of the US dollar slide from the January 16 high near CAD1.4700. The greenback's sharp advance is forcing the Bollinger Band to widen. The upper band is found near CAD1.3500.”
Trend Index:
Bearish
The spot rallied hard in Asia, after the bulls found renewed bids near 1.35 heads in the overnight trades. The Canadian dollar witnessed aggressive selling amid reports that the Trump administration plans to impose 20% tariff on soft lumber imports from Canada.
USD/CAD Technical levels
Analysts at Brown Brothers Harriman offered their technical outlook, “The technical indicators point to additional US dollar strength, with CAD1.36 being the next obvious target. In addition to corresponding to the highs from Q4 16, it is also the 50% retracement objective of the US dollar slide from the January 16 high near CAD1.4700. The greenback's sharp advance is forcing the Bollinger Band to widen. The upper band is found near CAD1.3500.”
Trend Index:
Bearish
