Forex News USD/CAD

[mlawson71]

USD/CAD is consolidating sideways, forming several spinning tops on the daily time-frame around 1.3070. That said, the candlesticks' long upper wicks indicate a possible small move to the downside.

 

[mlawson71]

USD/CAD finally bounced off from 1.3070, I think it will depreciate back to the support at 1.3000.

 

[mlawson71]

USD/CAD continues consolidating around 1.3030 and since the market will close soon that consolidation may not end this week.

 

[mlawson71]

USD/CAD continues consolidating sideways, testing the resistance at 1.3070, let's see whether it will rally to 1.3100.

 

[mlawson71]

The sideways consolidation continues developing, hopefully fundamentals will end it by the end of the week.

 

[mlawson71]

The move north finally continued and USD/CAD is back at 1.3150. The pair remains very bullish, let's see whether it will rise to 1.3200 too.

 

[mlawson71]

It reached 1.3170 and formed a rather impressive shooting star candlestick there on the daily time-frame, let's see whether that will be the end of the current rally.

 

[mlawson71]

The move north continues despite the shooting star candlestick at 1.3125, by the looks of it the pair will soon reach 1.3200.

 

[mlawson71]

The pair did reach 1.3200 and remains bullish, I think next target is around 1.3230 - 1.3240.

 

[Zenyems]

Please do you trade only USDCAD and do you trade it during news only or all the time? Am still trying to decide between forex and indices which to major in

 

[mlawson71]

I trade EUR/USD as well but I actually avoid trading both during big news events.

 

[mlawson71]

USD/CAD continues moving north, I think next target is around 1.3270.

 

[mlawson71]

It pulled back from 1.1095 and I think it may depreciate back to 1.1050.

 

[mlawson71]

USD/CAD rallied to 1.3300 and I think it is still bullish, so there will likely be a breakout above that level too.

 

[mlawson71]

It continues testing 1.3300 and there may be a correction to the downside before the move north continues.

 

[githurai]

USDCAD is officially on a downtrend IMHO. It formed a "hook" at 1.3294.

PS> A hook in this context basically mean the highest/lowest point reached on the first attempt of a retracement.

 

[richmonds7]

It reached 1.3170 and formed a rather impressive shooting star candlestick there on the daily time-frame, let's see whether that will be the end of the current rally.

It keeps raising (even passed through some divergencies) and i think it is quite risky to rely upon a pullback.

 

[githurai]

If Mondays candle is bearish, we can expect a nice dip on the USDCAD pair.

 

[mlawson71]

The move north continues, next target is likely at 1.3340, I think.

 

[mlawson71]

USD/CAD continues moving north, I think next target is around 1.3270.