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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 | 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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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 21 14 07:35 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 Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 19 14 09:54 GMT
USD/CAD rebounded to as high as 1.0793 last week but lost momentum ahead of 1.0813 support turned resistance and retreated. Initial bias is neutral first. 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 1.0602 already. And further rise is expected to 1.0813. Decisive break there will confirm this bullish case and target 1.0960 and above. In case of another fall, we'd continue to expect strong support from 1.0608 to bring reversal.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 18 14 07:53 GMT
With 1.0693 minor support intact, further rise is still expected in USD/CAD. Recent development suggests that the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance, which is close to 55 days EMA now, would confirm this bullish case and target 1.0960 resistance and above. Though, below 1.0693 will dampen this bullish view and turn focus back to 1.0608 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 17 14 04:52 GMT
USD/CAD lost some momentum ahead of 1.0813 resistance and retreated. But with 1.0693 support intact, further rise is still expected. Recent development suggests that the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance, which is close to 55 days EMA now, would confirm this bullish case and target 1.0960 resistance and above. Though, below 1.0693 will dampen this bullish view and turn focus back to 1.0608 instead.
Read more...
 
USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 16 14 04:09 GMT
The rebound from 1.0620 short term bottom extends to as high as 1.0769 so far and intraday bias remains on the upside. Recent development suggests that the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance, which is close to 55 days EMA now, would confirm this bullish case and target 1.0960 resistance and above. Though, below 1.0693 will dampen this bullish view and turn focus back to 1.0608 instead.
Read more...
 
USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 15 14 05:53 GMT
Intraday bias in USD/CAD remains on the upside and the rebound from 1.0620 short term bottom should continue higher. Also, recent development suggests that , the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance, which is close to 55 days EMA now, would confirm this bullish case and target 1.0960 resistance and above. In case of another fall, we'd continue to expect strong support from 1.0608 to bring reversal.
Read more...
 
USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 14 14 07:40 GMT
Intraday bias in USD/CAD remains on the upside and the rebound from 1.0620 short term bottom should continue higher. Also, recent development suggests that , the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Break of 1.0813 resistance would confirm this bullish case and target 1.0960 resistance and above. In case of another fall, we'd continue to expect strong support from 1.0608 to bring reversal.
Read more...
 
USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jul 12 14 08:25 GMT
USD/CAD's strong rebound last week indicates that a short term bottom was formed at 1.0620 on bullish convergence condition in 4 hours MACD. More importantly, the corrective all from 1.1278 could have completed just ahead of 1.0608 cluster support and the medium term trend line. Initial bias remains on the upside this week for 1.0813 resistance first. Break will confirm this bullish case and target 1.0960 resistance and above. In case of another fall, we'd continue to expect strong support from 1.0608 to bring reversal.
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