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Action Insight: USDCAD Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 30 16 13:32 GMT
USD/CAD's decline from 1.4689 continued last week. While downside momentum diminished, there is no clear sign of bottoming yet. Further fall is expected this week to next medium term fibonacci level at 1.2048. On the upside, above 1.2693 minor resistance will turn bias neutral and bring consolidations. But outlook will remain bearish as long as 1.2989 resistance holds.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 29 16 04:02 GMT
Intraday bias in USD/CAD remains on the downside. Current fall should now target next medium term fibonacci level at 1.1898. On the upside, above 1.2693 minor resistance will turn bias neutral and bring consolidations. But outlook will remain bearish as long as 1.2989 resistance holds.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 28 16 06:48 GMT
USD/CAD's decline from 1.4689 extends lower today and reaches as low as 1.2530 so far. Intraday bias remains on the downside. Current should now target next medium term fibonacci level at 1.1898. On the upside, above 1.2693 minor resistance will turn bias neutral and bring consolidations. But outlook will remain bearish as long as 1.2989 resistance holds.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 27 16 07:23 GMT
With 1.2989 resistance intact, near term outlook in USD/CAD remains bearish. Sustained trading below 38.2% retracement of 0.9406 to 1.4689 at 1.2671 will extend the fall from 1.4689 to next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 26 16 03:20 GMT
With 1.2989 resistance intact, near term outlook in USD/CAD remains bearish. Sustained trading below 38.2% retracement of 0.9406 to 1.4689 at 1.2671 will extend the fall from 1.4689 to next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 25 16 07:46 GMT
With 1.2989 resistance intact, near term outlook in USD/CAD remains bearish. Sustained trading below 38.2% retracement of 0.9406 to 1.4689 at 1.2671 will extend the fall from 1.4689 to next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 23 16 14:29 GMT
USD/CAD's decline continued last week and met 38.2% retracement of 0.9406 to 1.4689 at 1.2671. There is no clear sign of bottoming yet and outlook will stays bearish as long as 1.2989 resistance holds. Sustained trading below 1.2671 will pave the way to next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 22 16 02:47 GMT
With 1.2989 minor resistance intact, near term outlook in USD/CAD remains bearish. Sustained trading below medium term fibonacci level at 1.1267 will pave the way for next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 21 16 03:48 GMT
Intraday bias in USD/CAD remains on the downside as recent decline continued. Sustained trading below medium term fibonacci level at 1.1267 will pave the way for next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 20 16 02:56 GMT
USD/CAD's fall resumed after brief consolidations and reaches as low as 1.2629, meeting medium term fibonacci level at 1.2671. There is no clear sign of bottoming yet even though bullish convergence condition is seen in 4 hours MACD. Intraday bias is on the downside and sustained trading below 1.2671 will target next fibonacci level at 1.1898. On the upside, break of 1.2989 resistance will indicate near term reversal and turn outlook bullish.
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