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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 | Aug 01 14 04:49 GMT
USD/CAD's rally is still in progress and intraday bias remains on the upside for 1.0960 resistance. As noted before, correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Sustained break of 1.0960 will pave the way for retest of 1.1278 high. On the downside, below 1.0865 minor support will turn bias neutral and bring consolidations before staging another rally.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 31 14 04:43 GMT
USD/CAD's rally extended to as high as 1.0916 so far. Intraday bias remains on the upside for 1.0960 resistance next. As noted before, correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Sustained break of 1.0960 will pave the way for retest of 1.1278 high. On the downside, below 1.0845 minor support will turn bias neutral and bring consolidations before staging another rally.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 30 14 04:01 GMT
USD/CAD's rally extends to as high as 1.0865 so far and intraday bias remains on the upside. As noted before, that correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Rise from 1.0620 should extend to 1.0960 resistance next. Sustained break there will pave the way for retest of 1.1278 high. on the downside, below 1.0795 minor support will turn bias neutral and bring consolidations. But downside should be contained above 1.0708 support and bring another rise.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 29 14 04:05 GMT
Intraday bias in USD/CAD remains on the upside for the moment. Current development suggests that correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Further rally should now be seen to 1.0960 resistance next. In case of retreat, near term outlook will now stay bullish as long as 1.0708 support holds.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 28 14 07:11 GMT
Intraday bias in USD/CAD remains on the upside for the moment. Current development The development suggests that correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Further rally should now be seen to 1.0960 resistance next. In case of retreat, near term outlook will now stay bullish as long as 1.0708 support holds.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 26 14 08:53 GMT
USD/CAD's rebound from 1.0620 extended higher last week and breached 1.0813 resistance. The development suggests that correction from 1.1278 has completed at 1.0620 already, just ahead of 1.0608 key cluster support and long term trend line. Initial bias remains on the upside this week for 1.0960 resistance first. In case of retreat, near term outlook will now stay bullish as long as 1.0708 support holds.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 25 14 07:45 GMT
With 1.0693 minor support intact, further rise is still expected in USD/CAD. Considering that the pair has drawn strong support from 1.0680 cluster and the long term trend line, we're favoring the bullish case. That is, the corrective pull back from 1.1278 has completed at 1.0620 already. And further rise is expected to 1.0813. Decisive break there will confirm this bullish case and target 1.0960 and above. Meanwhile,, below 1.0693 will dampen this case and turn bias back to the downside for 1.0608 key support instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 24 14 06:43 GMT
With 1.0693 minor support intact, further rise is still expected in USD/CAD. Considering that the pair has drawn strong support from 1.0680 cluster and the long term trend line, we're favoring the bullish case. That is, the corrective pull back from 1.1278 has completed at 1.0620 already. And further rise is expected to 1.0813. Decisive break there will confirm this bullish case and target 1.0960 and above. Meanwhile,, below 1.0693 will dampen this case and turn bias back to the downside for 1.0608 key support instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 23 14 05:11 GMT
With 1.0693 minor support intact, further rise is still expected in USD/CAD. Considering that the pair has drawn strong support from 1.0680 cluster and the long term trend line, we're favoring the bullish case. That is, the corrective pull back from 1.1278 has completed at 1.0620 already. And further rise is expected to 1.0813. Decisive break there will confirm this bullish case and target 1.0960 and above. Meanwhile,, below 1.0693 will dampen this case and turn bias back to the downside for 1.0608 key support instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 22 14 04:17 GMT
With 1.0693 minor support intact, further rise is still expected in USD/CAD. Considering that the pair has drawn strong support from 1.0680 cluster and the long term trend line, we're favoring the bullish case. That is, the corrective pull back from 1.1278 has completed at 1.0620 already. And further rise is expected to 1.0813. Decisive break there will confirm this bullish case and target 1.0960 and above. Meanwhile,, below 1.0693 will dampen this case and turn bias back to the downside for 1.0608 key support instead.
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