Long term, the USDCAD looks bullish. the past few weeks has seen the commodity reliant pairing drop a fair amount due to the recovering oil prices. However, the price has hit the 23.6% fibonacci retracement, therefore we are waiting for some sign of a bullish continuation. The daily chart also shows the price touching the 200 EMA then having a strong bullish...
AUD/CAD has broken strong trendline resistance at 0.9912 in Tuesday's trade and has closed above. The pair has also broken above next strong resistance at 0.9990 levels (double top 17th Dec and 28th Jan). Momentum studies are bullish, close above 0.9990 could take the pair to 1.0085 and then 1.0110. Supports on the downside are located at 0.9960 (Jan 20th...
USOIL, COPPER, and the CAD are all at a major resistance right now and selling off. I'm expecting a small bounce in GBPCAD into 1.95, which is a big resistance area, retest of the trendline and the .382 fib area. Also, the MACD has just crossed over and flipped showing bullish momentum. Now that we've also broke the counter trendline I'm looking to buy at 1.90...
Canadian dollar is retesting a long term up trend line. Currently at 1.3325 and plenty of support here if we look at weekly. First seriious resistance is at 1.36.
We see a breakout of the channel. Also we have the completion of an AB-CD pattern at 61,8% fibonacci level. My view is shown in the chart.
The pair is moving in many bearish channels as you can see in the chart. I expect a test of the downside line in the big black channel. More info in the chart. Please like if you agree, or comment if you disagree.
Hello Traders, CADJPY completed a Wolfe Wave at 5'(5 prime) and is now looking at the Geo Off-Set Rule at point 4. An entry at this level will be of moderate risk.
U.S Dollar/Canadian Dollar might very possibly be up for a price flip as T.D Combo completed its countdown in to a demand zone this week, which is lining up with the MIDAS support curve. Momentum have created a divergence to the upside as it remains flat in oversold territory, (while price is making lower lows) indicating that a change in price is about to occur....
Dollar is already oversold against the Canadian on the MACD but RSI still shows some leeway which corresponds with the possibility of reaching 1.3450 - 1.3430 region in the coming days. After that I can see a bounce up back above 1.36 and in a later stage 1.40, 1.45 and even 1.50 (depending on how oil moves in the coming month(s)). So do note, that in the short...
NZD/CAD has re-entered the channel after brief dip below, has edged above 10-DMA in today's trade and 5-DMA has turned north. The pair failed to close below strong support at 0.8874 (double bottom, Oct 27th and Dec 4th 2015). Stochs are showing a clean rollover from oversold territory, and RSI strong and biased higher, at 46 and further room to run. Price...
what are you thoughts on king dollar vs. the following bad outlooks for canada (low oil prices and no longer holding gold reserves) I am new to this and would like to understand your logic. Thanks AP.
The pair has broken below the uptrend and is now correcting towards it providing a good opportunity to consider shorts.
Hitting the previous support of a H&S pattern now resistance+ short trend line. Good opportunity to enter quickly, Safe and successful trading!
EUR/CAD hits multi-week lows at 1.4677, bears look relentless, scope for further downside. The pair is being taken down with high volumes, 1.450 next bear target, further downside to see 1.44 levels. Oil prices are seeing a decent recovery from Feb 11th lows of 26.03 and are currently trading at 34.19 levels. The recovery in oil is likely to keep Loonie...
The price is moving in retracement in Daily chart. It is now facing the 200 MA resistance. We could look in lower timeframe to set up a buy opportunity with low risk and high reward.
AUD/CAD has taken channel base support at 0.9615 and edged higher to currently trade at 0.9705. RSI has turned North from oversold levels and daily Stochs has shown a bullish crossover. Price action is however below the cloud, with cloud base at 0.9741 offering strong resistance on the upside. Breaks below channel base at 0.9615 cloud see next support at 0.9596...