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 |
Apr 16 12 08:14 GMT
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The choppy sideway trading pattern from 0.9841 is still in progress and intraday bias remains neutral. Another decline remains mildly in favor with 1.0053 intact, to extend the fall from 1.0552. But we'll need a break of 0.9888 support to indicate resumption of such fall. In that case, USD/CAD should drop through 0.9841 low towards 0.9725 key support level. Meanwhile a break above 1.0053 will flip bias to the upside and bring stronger rebound towards falling trend line resistance (now at 1.0173) first.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 14 12 08:02 GMT
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Despite a brief rally to 1.0053, USD/CAD failed to sustain gain there and settled back into choppy sideway trading. More consolidative trading could be seen initially this week. Judging from the corrective nature of the price actions from 0.9841, another decline is mildly in favor to extend the fall from 1.0552. But we'll need a break of 0.9888 support to indicate resumption of such fall. In that case, USD/CAD should drop through 0.9841 low towards 0.9725 key support level. Meanwhile a break above 1.0053 will flip bias to the upside and bring stronger rebound towards falling trend line resistance (now at 1.0173) first.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 13 12 06:14 GMT
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Near term outlook in USD/CAD remains neutral for the moment. On the upside, break of 1.0053 will indicate that fall from 1.0522 has bottomed at 0.9841 already. In such case, stronger rise should be seen back to falling trend line resistance (now at 1.0173) first. However, note the price actions form 0.9841 still look corrective. Break of 0.9888 will extend the fall from 1.0522 for a test on 0.9725 support.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 12 12 06:26 GMT
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Intraday bias in USD/CAD remains neutral for the moment. Another rise and break of 1.0053 should affirm the case that fall from 1.0522 has bottomed at 0.9841 already. In such case, stronger rise should be seen back to falling trend line resistance (now at 1.0180) first). However, note the price actions form 0.9841 still look corrective. Break of 0.9888 will extend the fall from 1.0522 for a test on 0.9725 support.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 11 12 07:30 GMT
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Despite jumping to as high as 1.0053, there was no following through buying so far above 1.0049 resistance and USD/CAD retreated quickly. We'll stay neutral first. Another rise and break of 1.0053 should affirm the case that fall from 1.0522 has bottomed at 0.9841 already. In such case, stronger rise should be seen back to falling trend line resistance (now at 1.0180) first). However, note the price actions form 0.9841 still look corrective. Break of 0.9888 will extend the fall from 1.0522 for a test on 0.9725 support.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 10 12 08:17 GMT
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No change in USD/CAD's outlook as it's still bounded in choppy sideway trading in range above 0.9841. More consolidative trading could be seen. But recent decline is still in favor to continue as long as 1.0049 resistance holds. A break below 0.9860 support will indicate that fall from 1.0522 is resuming for a test on 0.9725 support. Nonetheless, break of 1.0049 will indicate that USD/CAD should have bottomed already and bring stronger rebound.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 09 12 13:52 GMT
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USD/CAD was stuck in the established range above 0.9841 last week and outlook remained unchanged. More consolidative trading could be seen. But recent decline is still in favor to continue as long as 1.0049 resistance holds. A break below 0.9860 support will indicate that fall from 1.0522 is resuming for a test on 0.9725 support. Nonetheless, break of 1.0049 will indicate that USD/CAD should have bottomed already and bring stronger rebound.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 05 12 07:49 GMT
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USD/CAD is still engaging in choppy sideway trading for the moment and intraday bias remains neutral. Another fall remains mildly in favor as long as 1.0049 resistance holds. Break of 0.9860 support will likely send USD/CAD through 0.9841 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. Though, break of 1.0049 will indicate that USD/CAD should have bottomed already and bring stronger rebound.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 04 12 07:14 GMT
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Intraday bias in USD/CAD remains neutral for the moment as choppy sideway trading continues. Note that another fall remains mildly in favor as long as 1.0049 resistance holds. Break of 0.9860 support will likely send USD/CAD through 0.9841 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. Though, break of 1.0049 will indicate that USD/CAD should have bottomed already and bring stronger rebound.
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USDCAD Outlook |
Written by ActionForex.com |
Apr 03 12 08:43 GMT
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Even though USD/CAD dropped sharply and broke 0.9900 support, there is no follow through selling so far. The development doesn't warrant a downside break out yet and we'll stay neutral first. After all, another fall remains mildly in favor as long as 1.0049 resistance holds. Break of 0.9860 support will likely send USD/CAD through 0.9841 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. Though, break of 1.0049 will indicate that USD/CAD should have bottomed already and bring stronger rebound.
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