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Action Insight: USDCAD Technical Outlook

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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 17 14 08:53 GMT
Intraday bias in USD/CAD is mildly on the upside and the rebound from 1.0857 short term bottom could extend higher. But we'd expect strong resistance above 61.8% retracement of 1.1278 to 1.0857 at 1.1117 to bring reversal to extend the corrective pattern from 1.1278. Meanwhile, below 1.0942 minor support will turn bias back to the downside for 1.0857 support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 16 14 03:47 GMT
The break of 1.1000 minor resistance suggests that a short term bottom is formed at 1.0857 after hitting 1.0859 medium term fibonacci level. Intraday bias is mildly on the upside for stronger rebound back to 61.8% retracement of 1.1278 to 1.0857 at 1.1117. But we'd expect strong resistance above there to limit upside to bring another decline to extend the corrective pattern from 1.1278. Meanwhile, below 1.0942 minor support will turn bias back to the downside for 1.0857 support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 15 14 04:09 GMT
Intraday bias in USD/CAD remains neutral with focus on 1.1000 resistance. Considering bullish convergence condition in 4 hours MACD, break of 1.1000 will confirm short term bottoming and bring stronger rebound back towards 1.1278 high. Meanwhile, break of 1.0857 will extend the correction from 1.1278 lower.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 14 14 08:11 GMT
Intraday bias in USD/CAD remains neutral with focus on 1.1000 resistance. Considering bullish convergence condition in 4 hours MACD, break of 1.1000 will confirm short term bottoming and bring stronger rebound back towards 1.1278 high. Meanwhile, break of 1.0857 will extend the correction from 1.1278 lower.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 12 14 03:28 GMT
USD/CAD dropped further to as low as 1..0857 last week and hit mentioned fibonacci level at 1.0859. Strong support was seen there and bring recovery. Initial bias is neutral this week first with focus on 1.1000 resistance. Considering bullish convergence condition in 4 hours MACD, break of 1.1000 will confirm short term bottoming and bring stronger rebound back towards 1.1278 high. Meanwhile, break of 1.0857 will extend the correction from 1.1278 lower.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 11 14 03:18 GMT
A temporary low is formed at 1.0857 after USD/CAD touches 38.2% retracement of 1.0181 to 1.1278 at 1.0859. Intraday bias is turned neutral for some consolidations first. Another decline will remain in favor as long as 1.1000 support turned resistance holds. Below 1.0857 will target 50% retracement of 1.0181 to 1.1278 at 1.0730. However, considering bullish convergence condition in 4 hours MACD, break of 1.1000 will indicate short term bottoming and bring stronger rebound.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 10 14 03:23 GMT
USD/CAD drops to as low as 1.0857 so far and touched mentioned 1.0859 fibonacci level already. Intraday bias remains on the downside and deeper decline is still in favor. Below 1.0857 again will target 50% retracement of 1.0181 to 1.1278 at 1.0730. On the upside, above 1.0941 minor resistance will argue that a short term bottom is possibly formed and will turn bias back to the upside for recovery.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 09 14 03:50 GMT
Intraday bias in USD/CAD remains on the downside for 1.0909 support. Break will confirm medium term topping at 1.1278 and target 1.0859 fibonacci level next. On the upside, break of 1.1010 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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USD/CAD Mid-Day Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 08 14 12:56 GMT
USD/CAD's fall from 1.1278 continues today and reaches as low as 1.0916 so far. Intraday bias remains on the downside for 1.0909 support first. Break will confirm medium term topping at 1.1278 on bearish divergence condition in daily MACD and target 1.0859 fibonacci level. On the upside, break of 1.1010 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Apr 08 14 06:17 GMT
Intraday bias in USD/CAD remains on the downside for 1.0909 support first. Break there will confirm medium term topping at 1.1278 on bearish divergence condition in daily MACD. On the upside, break of 1.1077 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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