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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 | Feb 09 12 07:52 GMT
Downside momentum in USD/CAD is a bit unconvincing for the moment. But with 1.0070 resistance intact, bear term outlook remains mildly bearish. Current fall is expected to continue to 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, however, note that break of 1.0070 will indicate short term bottoming and might bring stronger rebound back to 1.0319 resistance and above.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 08 12 08:58 GMT
Near term outlook in USD/CAD remains mildly bearish for the moment. Current decline is still expected to continue to 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, however, note that break of 1.0070 will indicate short term bottoming and might bring stronger rebound back to 1.0319 resistance and above.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 07 12 07:15 GMT
USD/CAD's choppy fall from 1.0319 is still in progress and current decline is expected to continue to 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, however, note that break of 1.0070 will indicate short term bottoming and might bring stronger rebound back to 1.0319 resistance and above.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 06 12 06:58 GMT
Near term outlook in USD/CAD remains bearish for the moment with 1.0070 resistance intact. Current fall should continue to 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, however, note that break of 1.0070 will indicate short term bottoming and might bring stronger rebound back to 1.0319 resistance and above.
Read more...
 
USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 04 12 05:55 GMT
USD/CAD's choppy fall continued last week and reached as low as 0.9927 so far. Initial bias remains on the downside this week for 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0070 resistance is needed to be the first signal of near term bottoming. Otherwise, outlook will remain bearish even in case of retreat.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 03 12 06:16 GMT
Intraday bias in USD/CAD remains neutral for the moment and more consolidations could be seen above 0.9965 temporary low. But again, near term outlook remains cautiously bearish with 1.0147 resistance intact. Current fall from 1.0522 is expected to extend to 0.9891 support next. Break will target 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0147 resistance will indicate short term bottoming and bring stronger rebound back towards 1.0522 resistance. After all, USD/CAD is still bounded in range of 0.9891/1.0656 and recent price actions look corrective. That is more consolidative trading would be seen before confirmed breakout.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 02 12 07:28 GMT
No change in USD/CAD's outlook. More consolidation might be seen above 0.9965 temporary low. But near term outlook remains cautiously bearish with 1.0147 resistance intact. Current fall from 1.0522 is expected to extend to 0.9891 support next. Break will target 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0147 resistance will indicate short term bottoming and bring stronger rebound back towards 1.0522 resistance. After all, USD/CAD is still bounded in range of 0.9891/1.0656 and recent price actions look corrective. That is more consolidative trading would be seen before confirmed breakout.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 01 12 08:23 GMT
USD/CAD dipped to 0.9965 but quickly recovered. Intraday bias stays neutral and we'd expect more consolidations first. But as noted before, near term outlook remains cautiously bearish with 1.0147 resistance intact. Current fall from 1.0522 is expected to extend to 0.9891 support next. Break will target 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0147 resistance will indicate short term bottoming and bring stronger rebound back towards 1.0522 resistance. After all, USD/CAD is still bounded in range of 0.9891/1.0656 and recent price actions look corrective. That is more consolidative trading would be seen before confirmed breakout.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 31 12 06:56 GMT
Intraday bias in USD/CAD remains neutral and more consolidations could be seen above 0.9981 temporary low. But after all, near term outlook remains cautiously bearish with 1.0147 resistance intact. Current fall from 1.0522 is expected to extend to 0.9891 support next. Break will target 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0147 resistance will indicate short term bottoming and bring stronger rebound back towards 1.0522 resistance. After all, USD/CAD is still bounded in range of 0.9891/1.0656 and recent price actions look corrective. That is more consolidative trading would be seen before confirmed breakout.
Read more...
 
USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 30 12 06:32 GMT
Intraday bias in USD/CAD is neutral for the moment and some consolidation could be seen above 0.9981 temporary low. But near term outlook remains cautiously bearish with 1.0147 resistance intact. Current fall from 1.0522 is expected to extend to 0.9891 support next. Break will target t 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0147 resistance will indicate short term bottoming and bring stronger rebound back towards 1.0522 resistance. After all, USD/CAD is still bounded in range of 0.9891/1.0656 and recent price actions look corrective. That is more consolidative trading would be seen before confirmed breakout.
Read more...
 
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