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.
- Market overviews covers major happenings in the markets as well as their impacts.
- Technical analysis of specific currency pair will be found in the technical outlook section. Covered pairs include EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, EUR/JPY, EUR/CHF, EUR/GBP, GBP/JPY
- Special reports covers medium to longer term forecasts on exchange rates based on fundamentals, central bank meetings previews and reviews, plus any current issues that will have an impact on exchange rates.
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USDCAD Outlook |
Written by ActionForex.com |
May 18 13 09:55 GMT
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USD/CAD rose to as high as 1.0312 last week and the break of 1.0293 resistance confirmed that correction from 1.0341 has completed at 1.0013 already. Initial bias remains on the upside for 1.0341 first. Break will resume whole rally from 0.9633 and should target 1.0455 resistance first. Break will pave the way for a test on key resistance at 1.0656. On the downside, below 1.0218 minor support is needed to signal short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat.
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USDCAD Outlook |
Written by ActionForex.com |
May 17 13 13:04 GMT
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USD/CAD rises to as high as 1.0306 in early US session and the break of 1.0293 resistance confirmed that correction from 1.0341 has finished with three waves down to 1.0013. More importantly, larger rally from 0.9633 is likely resuming. Intraday bias remains on the upside for 1.0341 first. Break will target 1.0445 resistance next. On the downside, below 1.0218 minor support will turn bias neutral and bring consolidations before staging another rise.
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USDCAD Outlook |
Written by ActionForex.com |
May 17 13 03:53 GMT
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Further rise is still expected in USD/CAD with 1.0137 minor support intact. As noted before, correction from 1.0341 might have finished with three waves down to 1.0013 already. Break of 1.0293 resistance will confirm this case and target 1.0341 and above. Though, below 1.0137 will dampen this bullish view and turn bias neutral first.
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USDCAD Outlook |
Written by ActionForex.com |
May 16 13 06:51 GMT
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As long as 1.0137 minor support holds, rebound from 1.0013 should still be in progress for 1.0293 resistance. Break there will confirm that whole correction from 1.0341 has completed with three waves down to 1.0013. In such case, stronger rally should be seen to 1.0341 and above to resume the larger rise. Though, below 1.0137 will mix up the outlook and turn bias neutral first.
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USDCAD Outlook |
Written by ActionForex.com |
May 15 13 04:49 GMT
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USD/CAD rises further to as high as 1.0194 so far today and intraday bias remains on the upside. Correction from 1.0341 might be completed at 1.0013 already. Further rise should be seen back to 1.0293 resistance first. Break will resume the larger rally from 0.9633 and should target 1.0341 and above. On the downside, below 1.0137 minor support will turn bias neutral and bring consolidations.
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USDCAD Outlook |
Written by ActionForex.com |
May 14 13 12:41 GMT
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USD/CAD's rebound from 1.0013 resumes after brief consolidations and intraday bias in USD/CAD remains on the upside for the moment. As noted before, a short term bottom was formed at 1.0013 and the current development raised the possibility that fall from 1.0341 is a correction and has completed with three waves down to 1.0013. Further rise would be seen to 1.0293 first. On the downside, though, below 1.0081 minor support will turn focus back to 1.0013 instead.
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USDCAD Outlook |
Written by ActionForex.com |
May 14 13 05:18 GMT
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As long as 1.0063 minor support holds, further rise is still mildly in favor in USD/CAD. As noted before, a short term bottom was formed at 1.0013 and the current development raised the possibility that fall from 1.0341 is a correction and has completed with three waves down to 1.0013. Further rise would be seen to 1.0293 first. On the downside, though, below 1.0063 minor support will turn focus back to 1.0013 instead.
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USDCAD Outlook |
Written by ActionForex.com |
May 13 13 07:41 GMT
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Intraday bias in USD/CAD remains on the upside for the moment. A short term bottom was formed at 1.0013 and the current development raised the possibility that fall from 1.0341 is a correction and has completed with three waves down to 1.0013. Further rise would be seen to 1.0293 first. On the downside, though, below 1.0063 minor support will turn focus back to 1.0013 instead.
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USDCAD Outlook |
Written by ActionForex.com |
May 11 13 06:11 GMT
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USD/CAD dipped initially to 1.0013 last week but rebounded strongly since then. The break of 1.0132 resistance suggests that a short term bottom is formed. Also, the development raised the possibility that fall from 1.0341 is a correction and has completed with three waves down to 1.0013. Initial bias is cautiously on the upside this week for 1.0293 resistance first. On the downside, though, below 1.0063 minor support will turn focus back to 1.0013 instead.
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USDCAD Outlook |
Written by ActionForex.com |
May 10 13 07:29 GMT
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USD/CAD recovered strongly from 1.0113 and bullish divergence condition in 4 hours MACD argues that a short term bottom in place. Stronger rebound could be seen. But break of 1.0132 minor resistance is needed to be the first sign of reversal. Otherwise, deeper decline is still mildly in favor. Below 1.0013 will target 61.8% retracement of 0.9633 to 1.0341 at 0.9903. Though, above 1.0132 will turn focus back to 1.0293 resistance.
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