Forex News USD/CAD

[mlawson71]

It finally bounced off from 1.3300 and it started forming a correction to the downside. Next target is likely around 1.3220.

 

[mlawson71]

The move south found some support at 1.3240 but I think it will likely break out below that level and continue depreciating.

 

[mlawson71]

It is still testing the support at1.3245, let's see whether or when it will break out below it and depreciate to 1.3200.

 

[mlawson71]

USD/CAD is still bearish - the pair is testing the support at 1.3230 and I think it may soon break out below that level.

 

[mlawson71]

USD/CAD did find some support at 1.3225 and rallied back to 1.3260. Let's see whether it will rally to 1.3300.

 

[HotForexsignal]

USD/CAD Price Analysis: Wedge breakout fails to encourage bulls

1. USD/CAD is at the offer notwithstanding the falling wedge breakout on the 4H chart.
2. Tuesday's high of 1.3278 wishes to breached to affirm a bullish revival.

USD/CAD is suffering to collect upside traction notwithstanding a bullish continuation setup on the 4-hour chart.

The pair broke out of a falling wedge sample on Monday, signaling a continuation of the recent rally from the December low of 1.2951.

The post-breakout upside, however, stalled at 1.3278 on Tuesday, allowing sellers to push the spot lower back to levels close to 1.3250 where it is presently trading.

Tuesday’s high of 1.3278 is now the stage to overcome for the bulls. A break better would reveal the latest excessive of 1.3329.

Alternatively, if sellers manage to establish a secure foothold underneath 1.3225 (Feb. 17 low), additional losses in the direction of 1.3185 might be seen. That degree marks the 38.2% Fibonacci retracement of the rally from 1.2951 to 1.3329.

 

[alvarogj]

According to my analysis this pair may drop some 50 to 100 pips. I have got a couple of sells from the heights.

 

[mlawson71]

The pair is undecided - it is consolidating sideways around 1.3250 - 1.3260 and so far there is no signal for a breakout.

 

[mlawson71]

USD/CAD is still stuck in its sideways consolidation and I doubt there will be a breakout before the new trading week.

 

[whispea]

I went short a few minutes ago. Based on the past a possible TP is at 1.32299. Lets see how it continues.

 

[mlawson71]

USD/CAD is still bullish though, it may even form a double top at 1.3330.

 

[whispea]

There was one double top in october 19 and one between nov and dec 19. And it went straight down after it. Made partial profits today and will wait for a new entry.

 

[mlawson71]

The pair pulled back from 1.3307 but I think the bullish move may continue soon.

 

[mlawson71]

USD/CAD formed a new high at 1.3347, I think it may continue moving north after all.

 

[mlawson71]

USD/CAD is rallying and I think it will likely reach 1.3500 soon.

 

[mlawson71]

The pair pulled back from 1.3465 and it may form a correction before it rallies again.

 

[mlawson71]

The pair will likely break out above the resistance at 1.3365 to continue it's move to the upside.

 

[mlawson71]

USD/CAD opened with a large gap north and it may attempt to retrace it by the end of the day, but the pair will remain bullish, I think.

 

[mlawson71]

The move north continues, I think it won't stop before 1.3800.

 

[HotForexsignal]

USD/CAD Pair Value Analysis: higher than 20-day MA however trapped in a very falling channel

1. USD/CAD pair remains stuck in a very falling channel, as per the hourly chart.
2. The 100- and 200-hour averages are teasing a bullish crossover.

The USD/CAD pair is sitting simply higher than the 20-day average at 1.4036 at press time, having hit a high of 1.4078 in early Asia. The Forex currency pair has pulled back from session highs despite the upcoming bullish crossover of the 100&200-hour averages.

While the upcoming bullish cross suggests the path of least resistance is to the upper facet, Monday's Doji candle and Tuesday's bearish follow through recommend otherwise. The Forex pair, therefore, risks falling to the 200-hour average at 1.4022 - 1.40.

A channel break-out, if confirmed, would imply a finish of the drop from the March three high of 1.4151. However, stronger proof of bullish breakout would be higher than Monday's high of 1.4153.