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USDCAD Outlook |
Written by ActionForex.com |
Jul 03 09 06:27 GMT |
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While rebounded strongly, USD/CAD is still limited below 1.1653 as well as 38.2% retracement of 1.3063 to 1.0784 at 1.1655. Outlook remains neutral for the moment. A short term top is in place on bearish divergence conditions in 4 hours MACD and RSI. Some more consolidation could be seen with risk of another pull back. But after all, downside is expected to be contained by 1.1226 clusters support (50% retracement of 1.0784 to 1.1653 at 1.1219) and bring rally resumption. Above 1.1653 will bring a test of 1.1814 resistance. However, note that a break of 1.1226 will be an important signal that whole rebound from 1.0784 has completed and will turn outlook bearish for retesting this low |
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USDCAD Outlook |
Written by ActionForex.com |
Jul 02 09 08:51 GMT |
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As mentioned before, a short term top might be in place at 1.1653 on bearish divergence conditions in 4 hours MACD and RSI, just ahead of 38.2% retracement of 1.3063 to 1.0784 at 1.1655. Further consolidation might be seen, with risk of another pull back. But downside is expected to be contained by 1.1226 clusters support (50% retracement of 1.0784 to 1.1653 at 1.1219) and bring rally resumption. Above 1.16530 will bring a test of 1.1814 resistance. However, note that a break of 1.1226 will be an important signal that whole rebound from 1.0784 has completed and will turn outlook bearish for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jul 01 09 15:19 GMT |
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Considering bearish divergence conditions in 4 hours MACD and RSI, USD/CAD's break of 1.1508 minor support suggests that a short term top is formed at 1.1653, just ahead of 38.2% retracement of 1.3063 to 1.0784 at 1.1655. Intraday bias in flipped back to the downside and some consolidation could be nee. But after all, downside is expected to be contained by 1.1226 clusters support (50% retracement of 1.0784 to 1.1653 at 1.1219) and bring rally resumption. Above 1.16530 will bring a test of 1.1814 resistance. However, note that a break of 1.1226 will be an important signal that whole rebound from 1.0784 has completed and will turn outlook bearish for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jul 01 09 09:12 GMT |
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Intraday bias in USD/CAD remains mildly on the upside as long as 1.1508 minor support holds and further rise should still be seen towards 1.1814 resisteance next. However, on the downside, below 1.1508 minor support will argue that USD/CAD is still bounded in sideway consolidation instead and bring another fall. But after all, downside is expected to be contained by 1.2260 support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 30 09 14:36 GMT |
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USD/CAD rises strongly in early US session and is now pressing 1.1636 resistance. Break there will indicate that recent rise from 1.0784 has resumed and should target 1.1814 resistance next. On the downside, below 1.1508 minor support will argue that USD/CAD is still bounded in sideway consolidation instead and bring another fall. But after all, downside is expected to be contained by 1.2260 support and bring rally resumption. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 30 09 09:34 GMT |
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Intraday outlook in USD/CAD remains neutral for the moment as it's still bounded in tight range of 1.1418 and 1.1636. Some sideway trading could still be seen with risk of another fall to 1.1418 and below. But downside is expected to be contained by 1.2260 support and bring rally resumption. Above 1.1636 will target a test of 1.1814 resistance first. However, note break of 1.1226 support will argue that whole rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 29 09 08:21 GMT |
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USD/CAD's consolidation form 1.1636 is still in progress and another fall to below 1.1418 minor support and below cannot be ruled out. But downside is expected to be contained by 1.2260 support and bring rally resumption. Above 1.1636 will target a test of 1.1814 resistance first. However, note break of 1.1226 support will argue that whole rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 27 09 14:40 GMT |
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USD/CAD's rise extended further to as high as 1.1636 last week, meeting mentioned resistance zone of 1.1475/1.1814 as expected. Though, the pair lost some momentum inside this zone and turned sideway after reaching 1.1636. Initial outlook is neutral this week and some consolidation could be seen with pull back to 1.1418 minor support or below. Nevertheless, downside is expected to be contained by 1.1226 support and bring rally resumption to test 1.1814 resistance. However, note that break of 1.1226 support will argue that whole rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 26 09 08:57 GMT |
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With 4 hours MACD crossed before signal line, an intraday top should be in place at 1.1636 and some pull back could now be seen to 1.1418 minor support and below. Nevertheless, downside should be contained by 1.1226 support and bring another rise to test 1.1814 resistance. Break will target next key cluster resistance at 1.2191. However, note that break of 1.1226 support will argue that whole rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 25 09 13:31 GMT |
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USD/CAD's rally resumes by taking out 1.1581 and reaches as high as 1.1636 so far. At this point, intraday bias remains on the upside as long as 1.1418 minor support holds and further rally should be seen to 1.1814 resistance. Break will target next key cluster resistance at 1.2191. On the downside, below 1.1418 will turn intraday outlook neutral first and bring consolidation. But another rise is still in favor as long as 1.1226 support holds. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 25 09 08:56 GMT |
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USD/CAD continues to stay in range below 1.1581 and some more consolidation might still be seen. But after all, downside is expected to be contained by 1.1226 support and bring resumption of rise from 1.0784. Break of 1.1581 will target 1.1814 resistance next. on the downside, however, below 1.1226 will argue that rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 24 09 09:09 GMT |
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With a temporary top in place at 1.1581, intraday outlook in USD/CAD is turned neutral for the moment. Some consolidation might be seen but rise from 1.0784 is still expected to continue as long as 1.1226 minor support holds. Above 1.1581 will target 1.8140 resistance. On the downside, however, below 1.1226 will argue that rebound from 1.0784 has completed and will flip bias back to the downside for retesting this low. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 23 09 09:08 GMT |
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USD/CAD edges further higher to 1.1576 so far today and at this point, intraday bias remains on the upside for 1.1814 resistance next. On the downside, below 1.1487 will suggest that an intraday top is formed and turn outlook neutral first. But break of 1.1230 support is needed to indicate that USD/CAD's rebound from 1.0784 has completed. Otherwise, short term outlook will remain bullish. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 22 09 13:30 GMT |
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USD/CAD's break of 1.1447 resistance confirms that recent rise from 1.0784 has resumed. At this point, intraday bias remains on the upside as long as 1.1392 minor support holds and further rise should be seen towards 1.1814 resistance next. On the downside, below 1.1392 will turn intraday outlook neutral first. But break of 1.1230 support is needed to indicate that USD/CAD's rebound has completed. Otherwise, short term outlook will remain bullish. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 22 09 09:05 GMT |
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USD/CAD rebounds strongly today and with 4 hours MACD crossed above signal line, recent rally might be ready to resume. Break of 1.1447 will confirm and target 1.1475/1.1814 resistance zone next. On the downside, though, below 1.1230 minor support will suggests that pull back from 1.1447 is still in progress and will bring another fall. But downside should be contained above 1.0940 support and bring rally resumption. However, note that break of 1.0940 support will dampen this bullish view and indicate that rise from 1.0784 has completed with three waves up, which in turn suggests that recent down trend is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 20 09 10:05 GMT |
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USD/CAD rebounded further to 1.1447 last week but turned sideway since then. Nevertheless, subsequent choppy price actions are merely consolidation in recent rally only and is supportive to the view that USD/CAD has bottomed out at 1.0784. Though, initial outlook is neutral this week with risk of another fall. But downside should be contained above 1.0940 support and bring rally resumption. Break of 1.1447 will target 1.1475/1.1814 resistance zone next. On the downside however, note that break of 1.0940 support will dampen this bullish view and indicate that rise from 1.0784 has completed with three waves up, which in turn suggests that recent down trend is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 19 09 08:47 GMT |
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USD/CAD continues to engage in sideway trading and with an intraday top in place at 1.1447, intraday outlook remains neutral at this point. Nevertheless, we're still favoring the case that a short term bottom is at least formed at 1.0784. Break of 1.1447 will bring rally resumption to 1.1475/1.1814 resistance zone next. However, note that break of 1.0940 support will dampen this view and indicate that rise from 1.0784 has completed with three waves up, which in turn suggests that recent down trend is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 18 09 08:48 GMT |
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USD/CAD retreats mildly after rising to 1.1447. Touching of 1.1270 minor support with 4 hours MACD staying below signal line, suggests that an intraday top is formed and turns outlook neutral for the moment. Nevertheless, we're still favoring the case that a short term bottom is at least formed at 1.0784. Break of 1.1447 will bring rally resumption to 1.1475/1.1814 resistance zone next. However, note that break of 1.0940 support will dampen this view and indicate that rise from 1.0784 has completed with three waves up, which in turn suggests that recent down trend is still in progress. |
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USDCAD Outlook |
Written by ActionForex.com |
Jun 17 09 14:36 GMT |
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USD/CAD's break of 1.3750 indicates that recent rebound from 1.0784 has resumed. Intraday bias now remains on the upside as long as 1.1270 minor support holds. Further rally is expected to 1.1475/1.1814 resistance zone next. . On the downside, below 1.1270 will turn intraday outlook neutral again and bring pull back. But after all, as we're favoring the case that USD/CAD has bottomed out at 1.0784, downside of pull back is expected to be contained above 1.0940 support and bring rally resumption. |
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