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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 Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 26 16 08:38 GMT
The retreat from 1.3187 is still in progress and intraday bias remains neutral. We're favoring the case that whole fall from 1.4689 has completed at 1.2460. Above 1.3187 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. However, bearish divergence condition in 4 hours MACD raised some doubt on this view. Break of 1.2770 support will suggests that rebound from 1.2460 has completed and fall from 1.4689 is going to extend through 1.2460 low.
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USD/CAD Mid-Day Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 25 16 14:25 GMT
The retreat from 1.3187 temporary top extends today and deeper fall could be seen. But still, we're favoring the case that whole fall from 1.4689 has completed at 1.2460. Above 1.3187 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. However, bearish divergence condition in 4 hours MACD raised some doubt on this view. Break of 1.2770 support will suggests that rebound from 1.2460 has completed and fall from 1.4689 is going to extend through 1.2460 low.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 25 16 04:16 GMT
A temporary top is formed at 1.3187 in USD/CAD with 4 hours MACD dropped below signal line. Intraday bias is turned neutral first. At this point, we're still favoring the case that whole fall from 1.4689 has completed at 1.2460. Above 1.3187 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. However, bearish divergence condition in 4 hours MACD raised some doubt on this view. Break of 1.2770 support will suggests that rebound from 1.2460 has completed and fall from 1.4689 is going to extend through 1.2460 low.<
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 24 16 03:12 GMT
USD/CAD's rally continues today even though upside momentum is diminishing as seen in 4 hours MACD. Intraday bias remains on the upside and current rise should target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. It is likely that whole fall from 1.4689 is finished too and break of 1.3311 will target 61.8% retracement at 1.3838. On the downside, below 1.3076 minor support will turn bias neutral and bring retreat. But outlook will stay cautious as long as 1.2770 support holds and further rise is expected.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 23 16 03:00 GMT
Intraday bias in USD/CAD remains on the upside for 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. It is likely that whole fall from 1.4689 is finished too and break of 1.3311 will target 61.8% retracement at 1.3838. On the downside, below 1.3014 minor support will turn bias neutral and bring retreat. But outlook will stay cautious as long as 1.2770 support holds and further rise is expected.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 20 16 04:55 GMT
Intraday bias in USD/CAD remains on the upside for 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. It is likely that whole fall from 1.4689 is finished too and break of 1.3311 will target 61.8% retracement at 1.3838. In any case, outlook will stay cautiously bullish as long as 1.2770 support holds even in case of retreat.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 19 16 04:07 GMT
USD/CAD's rise from 1.2460 resumed by taking out 1.3014 and reaches as high as 1.3058 so far. Intraday bias is back on the upside for 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. It is likely that whole fall from 1.4689 is finished too and break of 1.3311 will target 61.8% retracement at 1.3838. In any case, outlook will stay cautiously bullish as long as 1.2770 support holds even in case of retreat.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 18 16 04:07 GMT
Intraday bias in USD/CAD stays neutral for the moment. We're staying cautiously bullish in the pair as a short term bottom is in place at 1.2460 and further rise is in favor. Above 1.3014 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. On the downside, break of 1.2770 minor support will turn focus back to 1.2460 low instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 17 16 06:19 GMT
Intraday bias in USD/CAD stays neutral for the moment. We're staying cautiously bullish in the pair as a short term bottom is in place at 1.2460 and further rise is in favor. Above 1.3014 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. On the downside, break of 1.2770 minor support will turn focus back to 1.2460 low instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | May 17 16 06:19 GMT
Intraday bias in USD/CAD stays neutral for the moment. We're staying cautiously bullish in the pair as a short term bottom is in place at 1.2460 and further rise is in favor. Above 1.3014 will target 38.2% retracement of 1.4689 to 1.2460 at 1.3311 first. On the downside, break of 1.2770 minor support will turn focus back to 1.2460 low instead.
Read more...
 
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