Trend Analysis The main view of this trade idea is on the 4-Hour. The fx cross USDCAD held support around the 1.245 price level after hitting resistance from 1.28. This is a counter-trend move from the rally in USDCAD which appears to be exhausted. Expectations are for a rally towards the 1.28 price level, 2.4% away from the time of publishing. Technical...
USDCAD is trending to the upside prior to the USD Retail Sales data, which measures the total receipts for retail stores domestically. Technically the pair has broken a key pivot to the upside, and we anticipate upside into the next key resistance at 1.2675.
USDCAD has traded into support prior to the USD Producer Price Index Data, which measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Technically the pair is bouncing from support and we anticipate intraday upside into the .2525 level.
USDCAD broke the bearish flag and seems to goes down to 1.22-123 level. TP zone is 100% fibo exp and 1.618 ext.
the pair is trading in a clear channel range as you can see the upper trendline was the end of big wave 4. if the counting is correct we will be expecting a wave 5 to finish this Cycle near 1/15-1.1600 area. our stop loss will be above the previous top. the risk to reward ratio is awesome for this trade however it might be a medium-long term investment. good luck!!!
USDCAD is trending to the downside prior to the CAD Markit Manufacturing PMI, which is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 industrial companies. Technically the pair is bouncing out of trendline resistance, and looks set to continue downside.
Trend Analysis The main view of this trade idea is on the 2-Hour chart. The Forex Cross NZDCAD is in an upward trend channel, and is forming a higher low around the 0.875 price level. Expectations are for a continuation of this trend channel in the medium term, with a higher high being made around the 0.895 price level, 1.81% away from current levels. Technical...
Loonie is also staring at support from a rebound in oil ahead of Canadian labour data with Usd/Cad now eyeing 1.2500 to the downside having faded around 1.2590 only yesterday. Bearish bias is now in play for this pair...
The Loonie’s luck continues to ride on or rest with the fortunes of oil in the main, and another and more pronounced fallout in WTI and Brent has pushed it back down to the bottom of the G10 pile as USD/CAD rebounds circa one big figure from the low 1.2400 area irrespective of upbeat Canadian Ivey PMIs. Further bullish moves anticipated into new high territory.
USDCAD has bounced out off resistance prior to the FOMC Minutes, which reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. Technically the pair has bounced out of resistance forming a double top, and the RSI has given a sell...
CHFJPY Is in an ascending channel and has bounced out of a key support / resistance level. I am looking for further downside on the cross forex pair.
The dollar was choppy today and started the day lower but remains sub 92.00, whilst holding above the 91.60 support level in wake of a weak initial jobless claims print yet again this week at 411k, a similar pace to last week. CAD was a underperformer despite a partial recovery in Canadian manufacturing sales and failed to benefit from a later recovery bid in oil...
Momentum is turning bearish on the 4hr time-frame and depending on the weekly close (bearish candlestick) we may see a tweezer top on this pair and for a further corrective move lower. Happy Trading folks! Cheers!
We're long USDCAD. On the chart, we've highlighted a break above the trendline on a high volume -- Our first target at R1, 1.2142. In terms of momentum: Daily - Bullish! 4 Hr - Bullish! 1 Hr - Bullish! ADX rising! Happy Trading folks! Cheers!
Could even play the range here..I think USDCAD has been one of the biggest movers this year most thanks to Oil's brilliant recovery as Canada aren't doing fantastic with Covid. Now it's reached 1.20, I think most are out of sells and just on the side and volume suggests that. Could see this go sideways for a while now.
Here's a 4hr chart on USDCAD, we'll monitor this one closely whether it will bounce from here or break down. Happy Trading folks! Cheers!