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USDCAD Outlook |
Written by ActionForex.com |
May 10 08 20:28 GMT |
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USD/CAD's choppy consolidative trading continued last week, without making any progress. The flag like pattern from 1.0326 suggests that it's merely consolidation to rise from 0.9709 only. Though there is no indicate of completion yet, such consolidation should be contained well above 0.9709 support and bring rally resumption. Break of 1.0242 resistance will be an important signal that such consolidation has completed and will encourage further rise to 1.0378 resistance and then 61.8% projection of 0.9056 to 1.0378 from 0.9709 at 1.0526. |
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USDCAD Outlook |
Written by ActionForex.com |
May 08 08 13:35 GMT |
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USD/CAD's choppy price actions continues. Strong rebound from 0.9998 and break of 1.0086 minor resistance indicates fall from 1.0242 has possibly completed and turns outlook neutral again. On the upside, break of 1.0242 resistance is needed to indicate choppy consolidation from 1.0326 has completed and bring retest of this resistance. Otherwise, consolidation could extend further with risk of another fall before completion. |
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USDCAD Outlook |
Written by ActionForex.com |
May 07 08 14:55 GMT |
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USD/CAD recovers after diving to 0.9998 but after fall, intraday bias remains on the downside as long as 1.0086 minor resistance holds. The strength of the decline from 1.0242 indicates that it should be another falling leg of the consolidation that started at 1.0326. Further fall should be seen to support zone of 61.8% retracement of 0.9709 to 1.0326 at 0.9945 and 100% projection of 1.0326 to 0.9987 from 1.0242 at 0.9903 before completing the consolidation. On the upside, above 1.0086 will turn intraday outlook neutral first. But another fall is still in favor as long as recovery is limited below 1.0242. |
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USDCAD Outlook |
Written by ActionForex.com |
May 06 08 15:31 GMT |
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USD/CAD dives sharply in US session and is back pressing parity. The strength of the decline from 1.0242 indicates that it should be another falling leg of the consolidation that started at 1.0326. At this point, intraday bias will remain on the downside as long as 1.0086 minor resistance holds. Further should be seen to support zone of 61.8% retracement of 0.9709 to 1.0326 at 0.9945 and 100% projection of 1.0326 to 0.9987 from 1.0242 at 0.9903 before completing the consolidation. On the upside, above 1.0086 will turn intraday outlook neutral first. But another fall is still in favor as long as recovery is limited below 1.0242. |
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USDCAD Outlook |
Written by ActionForex.com |
May 05 08 15:48 GMT |
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USD/CAD's retreat from 1.0242 extends further today and break of 1.0146 minor support indicates that an intraday top is in place and turns outlook neutral for the moment. Consolidation from 1.0326 could still be in progress and more choppy sideway trading could be seen before breaking out. Though, on the upside, above 1.0242 resistance will revive that case the consolidation has completed and bring retest of 1.0326 first and the 1.0378. |
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USDCAD Outlook |
Written by ActionForex.com |
May 03 08 19:27 GMT |
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After consolidating sideway for most of the week, USD/CAD edged higher to 1.0242 on Friday. The break of 1.0214 resistance and the short term falling trend line argues that consolidation from 1.0326 could have completed at 1.0036 already. Having said that, initial bias is mildly on the upside this week for a retest of 1.0326 resistance first. Break will indicate whole rise from 0.9709 has resumed for 1.0378 resistance first. However, below 1.0146 will turn intraday outlook neutral again and suggests that consolidation from 1.0326 is still in progress. That is, more choppy sideway trading will be seen before breaking out. |
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USDCAD Outlook |
Written by ActionForex.com |
May 02 08 13:28 GMT |
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USD/CAD rides on broad based strength dollar and surges to as high as 1.0242 in early US session. Break of 1.0214 and short term falling trend line argues that consolidation from 1.0326 has completed. At this point, intraday bias remains on the upside as long as 1.0146 minor support holds and further rally is in favor to test 1.0326 resistance. Break will confirm the whole rise from 0.9709 has resumed for 1.3078 resistance. However, below 1.0146 will turn outlook mixed again and argues that consolidation from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
May 01 08 13:22 GMT |
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USD/CAD's choppy range trading continues and rebounds strongly after diving to 1.0036. Outlook remains unchanged so far. Price actions from 1.0326 i treated as consolidation to rally from 0.9709 and there is no confirmation of completion yet. Above 1.0214 is needed to be the first alert that such consolidation has completed and bring rise towards 2.0325 resistance and higher. Meanwhile, below 1.0036 will shift intraday bias back to the downside for 0.9987 as consolidation continues. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 30 08 14:14 GMT |
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USD/CAD dives again in early US session and break of 1.0059 minor support argues that consolidation from 1.0326 is still in progress and will extend further. Intraday bias is now on the downside for further decline to 0.9987 support and lower. On the upside, above 1.0141 will argue that such consolidation might have finished and pull focus back to 1.0214 resistance first. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 29 08 16:08 GMT |
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USD/CAD continues to stay inside range of 1.0059 and 1.0214 today, without making any progress. The corrective look of the rise from 0.9987 to 1.0214 argues that consolidation from 1.0326 is still in progress. below 1.0059 is needed to revive the case that fall from 1.0326 is still in force to below 0.9987 before completion. On the upside, though, above 1.0214 will add more credence to the case that such consolidation has finished and will encourage rally to 1.0326 resistance and then 1.0378 resistance. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 28 08 14:04 GMT |
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USD/CAD retreats sharply earlier today but downside was contained above 1.0059 minor support and rebounds strongly since then. The intraday outlook is a bit mixed as there is no confirmation on whether the consolidation from 1.0326 has completed. On the upside, above 1.0213 will add more credence to the case that such consolidation has finished and will encourage rally to 1.0326 resistance and then 1.0378 resistance. Meanwhile, on the downside, below 1.0059 is needed to revive the case that fall from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 27 08 06:22 GMT |
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USD/CAD's rebound from 0.997 extended further to 1.0241 but turned into sideway consolidation since then. Outlook remain unchanged at this moment. Prior break of 1.0161 resistance indicates that fall from 1.0273 has completed. Also, it suggests that price actions from 1.0326 should be consolidation to rise from 0.9709 only and has completed with three waves down to 0.9987. Further rally should be seen to 1.0326 resistance and then 1.0378 resistance. Meanwhile, on the downside below 1.0059 is needed to revive the case that fall from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 25 08 12:59 GMT |
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USD/CAD's sideway trading below 1.0214 continues today. Outlook remain unchanged at this moment. Break of 1.0161 resistance indicates that fall from 1.0273 has completed. Also, it suggests that price actions from 1.0326 should be consolidation to rise from 0.9709 only and has completed with three waves down to 0.9987. Further rally should be seen to 1.0326 resistance and then 1.0378 resistance. Meanwhile, on the downside below 1.0059 is needed to revive the case that fall from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 24 08 14:49 GMT |
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USD/CAD turns sideway after reaching as high as 1.0214. Though, outlook remain unchanged at this moment. Break of 1.0161 resistance indicates that fall from 1.0273 has completed. Also, it suggests that price actions from 1.0326 should be consolidation to rise from 0.9709 only and has completed with three waves down to 0.9987. Further rally should be seen to 1.0326 resistance and then 1.0378 resistance. Meanwhile, on the downside below 1.0059 is needed to revive the case that fall from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 23 08 13:22 GMT |
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USD/CAD's rebound from 0.9987 extends further to as high as 1.0206 today. Break of 1.0161 resistance indicates that fall from 1.0273 has completed. Also, it suggests that price actions from 1.0326 should be consolidation to rise from 0.9709 only and has completed with three waves down to 0.9987. At this point, further rally should be seen to 1.0326 resistance and then 1.0378 resistance. Meanwhile, on the downside below 1.0058 is needed to revive the case that fall from 1.0326 is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 22 08 07:31 GMT |
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Outlook in USD/CAD remains unchanged. As long as 1.0161 cluster resistance holds, further downside is still in favor. Break of 0.9987 support will encourage further decline towards lower side of established range near to 0.9709. Meanwhile, above 1.0161 will argues that price actions from 1.0326 is probably just correction to the rally from 0.9709 and should have completed. In other words, further upside should then be seen to 1.0326 resistance and above in such case. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 21 08 15:04 GMT |
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USD/CAD weakens mildly today but after all it's still staying in established range above 0.9987. Outlook remains unchanged. While further consolidation could be seen upside should be limited below 1.0161 cluster resistance and bring another fall. Below 0.9987 will indicate decline from 1.0273 has resumed for the lower side of established range near to 0.9709 support. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 19 08 13:37 GMT |
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USD/CAD's fall from 1.0273 extended further to as low as 0.9987 last week but turned into sideway trading since then. Nevertheless, with 1.0161 cluster resistance still holds, outlook is unchanged. While further consolidation could be seen initially this week, upside should be limited below 1.0161 cluster resistance and bring another fall. Below 0.9987 will indicate decline from 1.0273 has resumed for the lower side of established range near to 0.9709 support. |
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USDCAD Outlook |
Written by ActionForex.com |
Apr 18 08 15:52 GMT |
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USD/CAD continues to engage in choppy sideway trading above 0.9987 without having much direction. Outlook is turn neutral for the moment. Though fruther recovery could still be seen, upside should be limited below 1.0161 cluster resistance and bring another fall. Below 0.9987 will indicate decline from 1.0273 has resumed for the lower side of established range near to 0.9709 support. |
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