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USDCAD Outlook |
Written by ActionForex.com |
Feb 08 10 08:34 GMT |
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Intraday bias in USD/CAD remains neutral for the moment and consolidations from 1.0779 continues. Deeper retreat to 4 hours 55 EMA (now at 1.0631) might be seen. But still, downside is expected to be contained by 1.0544 support and bring rally resumption. Above 1.0779 will bring retest of 1.0851 resistance next. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 06 10 09:22 GMT |
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USD/CAD rose further to as high as 1.0779 last week and the break of 1.0744 resistance affirms our view that three wave correction from 1.0851 has already finished at 1.0223. Nevertheless, subsequent sharp retreat from 1.0779 indicates that a short term top might be formed. Initial bias will be neutral this week and some consolidations should be seen first. Though, downside is expected to be contained by 1.0544 support and bring rally resumption. Above 1.0779 will bring retest of 1.0851 resistance next. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 05 10 13:58 GMT |
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USD/CAD's break of 1.0678 minor support suggests that an intraday top is formed at 1.0779. Some more retreat might be seen but we'd expect strong support from 1.0544 support to bring rally resumption. Prior break of 1.0744 resistance confirm that whole correction pattern from 1.0851 has already finished at 1.0223. Above 1.0779 will target a retest of 1.0851 resistance next. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 05 10 06:16 GMT |
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Intraday bias in USD/CAD remains on the upside and decisive break of 1.0744 resistance will confirm that whole correction pattern from 1.0851 has already finished at 1.0223 and will bring stronger rally to retest this resistance next. On the downside, below 1.0678 will turn intraday bias neutral and bring consolidation. But downside should be contained above 1.0544 support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 04 10 14:27 GMT |
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USD/CAD's break of 1.0638 minor resistance indicates that pull back from 1.0720 has likely completed at 1.0544 already. Intraday bias is flipped back to the upside. Break of 1.0720 will bring rally resumption to 1.0744 resistance first. As discussed before, break there will confirm that whole correction pattern from 1.0851 has already finished at 1.0223 and will bring stronger rally to retest this resistance next. On the downside, in case of another fall, we'd continue to expect strong support from 38.2% retracement of 1.0223 to 1.0720 at 1.0530 and bring rebound. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 04 10 08:20 GMT |
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At this point, intraday bias in USD/CAD remains neutral and more consolidations could be seen. But still, we'd expect strong support from 38.2% retracement of 1.0223 to 1.0720 at 1.0530 and bring rebound. Above 1.0638 minor resistance will flip intraday bias back to the upside for retesting 1.0720 first. However, firm break of 1.0530 fibo support will bring deeper pull back to 1.0412 cluster support (61.8% retracement at 1.0413). |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 03 10 06:45 GMT |
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With a short term top in place at 1.0720, USD/CAD's pull back is still in progress and further decline could still be seen. Though, we'd expect strong support from 38.2% retracement of 1.0223 to 1.0720 at 1.0530 and bring rebound. Above 1.0638 minor resistance will flip intraday bias back to the upside for retesting 1.0720 first. However, firm break of 1.0530 fibo support will bring deeper pull back to 1.0413 cluster support (61.8% retracement at 1.0412). |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 02 10 04:58 GMT |
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USD/CAD's break of 1.0622 minor support suggests that a short term top is possibly in place at 1.0720 on bearish divergence condition in 4 hours MACD and RSI. Intraday bias is turned neutral for the moment and deeper retreat might be seen to 4 hours 55 EMA (now at 1.0577). But we'd expect strong support from 38.2% retracement of 1.0223 to 1.0720 at 1.0530 and bring rebound. On the upside, above 1.0720 will bring rally resumption to 1.0744 resistance first. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. |
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USDCAD Outlook |
Written by ActionForex.com |
Feb 01 10 06:27 GMT |
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Intraday bias in USD/CAD remains on the upside with 1.0622 minor support intact. Further rise should be seen to 1.0744 resistance first. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, below 1.0622 minor support will suggest that a short term top is possibly in place and should bring retreat to 4 hours 55 EMA (now at 1.0564) and below before staging another rise. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 31 10 07:24 GMT |
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USD/CAD's rise from 1.0223 continued last week and reached as high as 1.0704 so far. Initial bias will remain on the upside this week for 1.0744 resistance. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, below 1.0622 minor support will suggest that a short term top is possibly in place and should bring retreat to 4 hours 55 EMA (now at 1.0554) and below before staging another rise. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 29 10 07:22 GMT |
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USD/CAD's marginal break of 1.0690 argues that rise from 1.0223 is possibly resuming. Intraday bias is cautiously on the upside as long as 1.0637 minor support holds. Rise should 1.0223 is expected to continue to 1.0744 resistance. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, though, below 1.0637 will turn intraday bias neutral again and argue that consolidation from 1.0690 is still in progress. Nevertheless, in case of another fall, downside is expected to be contained by 38.2% retracement of 1.0223 to 1.0690 at 1.0512 and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 28 10 06:45 GMT |
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With 4 hours MACD staying below signal line, an intraday top should be in place in USD/CAD at 1.0690. Bias is turned neutral and some consolidation should be seen, with risk of deeper retreat. Nevertheless, downside should be contained by 38.2% retracement of 1.0223 to 1.0690 at 1.0512 and bring rally resumption. Above 1.0690 will target 1.0744 resistance. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 27 10 07:47 GMT |
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At this point, intraday bias in USD/CAD remains on the upside as long as 1.0589 minor support holds. Further rise should be seen to 1.0744 resistance next. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, below 1.0589 minor support will suggest that an intraday top is formed and bring consolidations before staging another rally. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 26 10 06:47 GMT |
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Intraday bias in USD/CAD remains on the upside and further rise is expected to be seen to 1.0744 resistance next. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the upside, below 1.0544 minor support will suggest that an intraday top is formed and bring consolidations before staging another rally. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 25 10 07:29 GMT |
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At this point, intraday bias in USD/CAD remains on the upside with 1.0462 minor support intact/ Current rise from 1.0223 is still expected to continue to 1.0744 resistance next. Break there will also affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, below 1.0462 minor support will indicate that a short term top is possibly in place and bring consolidation. But downside should be contained above 1.0313 support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 23 10 16:05 GMT |
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USD/CAD rebounded strongly last week and the break of 1.0412 resistance confirms that fall from 1.0744 has completed at 1.0223, ahead of 1.0205 key support as expected. Initial bias remains on the upside this week for 1.0744 resistance next. Break there will also affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the downside, below 1.0462 minor support will indicate that a short term top is possibly in place and bring consolidation. But downside should be contained above 1.0313 support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 22 10 13:54 GMT |
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USD/CAD's rally resumes after brief consolidation and reaches as high as 1.0562 so far in early US session. Intraday bias remains on the upside and further rise should be seen to 1.0744 resistance next. Break there will confirm our bullish view that whole consolidation from 1.0851 has finished with three waves down to 1.0223 too. In such case, rise from 1.0205 should be resuming for 1.0851 and beyond. On the downside, below 1.0462 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.0313 resistance turn support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 22 10 07:43 GMT |
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USD/CAD is losing some upside momentum but intraday bias remains on the upside as long as 1.0438 minor support holds. CUrrent rise is expected to continue to 1.0744 resistance first. Break there will confirm our bullish view that whole consolidation from 1.0851 has finished with three waves down to 1.0223 too. In such case, rise from 1.0205 should be resuming for 1.0851 and beyond. On the downside, below 1.0438 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.0313 resistance turn support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jan 21 10 06:46 GMT |
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As discussed before, USD/CAD's fall from 1.0744 has completed at 1.0223 already, ahead of 1.0205 key support as expected. Intraday bias remains on the upside for the moment and further rise should be seen to 1.0744 resistance first. Break there will also confirm our bullish view that whole consolidation from 1.0851 has finished with three waves down to 1.0223 too. In such case, rise from 1.0205 should be resuming for 1.0851 and beyond. On the downside, below 1.0425 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.0313 resistance turn support and bring rally resumption. |
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