Daily Pivots: (S1) 1.3698; (P) 1.3736; (R1) 1.3792; More…

Intraday bias in USD/CAD remains mildly on the upside for the moment. Corrective pattern from 1.3538 is extending with the third leg. Further rise would be seen to 1.3797 resistance and possibly above. On the downside, break of 1.3650 minor support will bring retest of 1.3538/55 support zone instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3656; (P) 1.3705; (R1) 1.3731; More…

Intraday bias in USD/CAD is back on the upside with breach of 1.3729 temporary top. Further rise could be seen to 1.3797 resistance and above, to extend the corrective pattern from 1.3538. On the downside, break of 1.3650 minor support will bring retest of 1.3538/55 support zone instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3687; (P) 1.3708; (R1) 1.3745; More…

Intraday bias in USD/CAD stays neutral at this point. Overall, price actions from 1.3538 are seen as a corrective pattern, which is now in its third leg. Stronger rise could be seen and above 1.3728 will target 1.3797 resistance and probably above. On the downside, break of 1.3637 minor support will bring retest of 1.3538/55 support zone.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3680; (P) 1.3695; (R1) 1.3719; More…

Intraday bias in USD/CAD stays neutral for the moment. Overall, price actions from 1.3538 are seen as a corrective pattern, which is now in its third leg. Stronger rise could be seen and above 1.3728 will target 1.3797 resistance and probably above. On the downside, break of 1.3637 minor support will bring retest of 1.3538/55 support zone.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3651; (P) 1.3691; (R1) 1.3730; More…

Intraday bias in USD/CAD remains neutral at this point. Overall, price actions from 1.3538 are seen as a corrective pattern, which is now in its third leg. Stronger rise could be seen and above 1.3728 will target 1.3797 resistance and probably above. On the downside, break of 1.3637 minor support will bring retest of 1.3538/55 support zone.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

USD/CAD recovered last week but lost momentum quickly. Initial bias stays neutral this week first. Overall, price actions from 1.3538 are seen as a corrective pattern, which is now in its third leg. Stronger rise could be seen and above 1.3728 will target 1.3797 resistance and probably above. On the downside, break of 1.3637 minor support will bring retest of 1.3538/55 support zone.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3494) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3636; (P) 1.3666; (R1) 1.3692; More…

USD/CAD retreated after a brief spike to 1.3729 and intraday bias is turned neutral again. Overall, consolidation pattern from 1.3538 could still extend. Above 1.3729 will target 1.3797 resistance and possibly above. On the downside, however, break of 1.3637 minor support will bring retest of 1.3538/55 support zone instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3636; (P) 1.3666; (R1) 1.3692; More…

USD/CAD’s rebound from 1.3555 resumed after brief retreat and intraday bias is back on the upside. Consolidative pattern from 1.3538 is in its third leg and further rise should be seen to 1.3797 and possibly above. On the downside, however, break of 1.3637 minor support will bring retest of 1.3538/55 support zone instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3636; (P) 1.3666; (R1) 1.3692; More…

Intraday bias in USD/CAD is turned neutral with current retreat. Consolidative pattern from 1.3538 is in its third leg. Break of 1.3708 will target 1.3797 and possibly above. Nevertheless, on the downside, firm break of 1.3538/55 support zone will confirm resumption of whole decline from 1.4791.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3636; (P) 1.3666; (R1) 1.3692; More…

No change in USD/CAD’s outlook as corrective pattern from 1.3538 is in the third leg. Intraday bias stays mildly on the upside for 1.3797 resistance and possibly above. On the downside, firm break of 1.3538/55 support zone will confirm resumption of whole decline from 1.4791.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3575; (P) 1.3596; (R1) 1.3625; More…

Intraday bias in USD/CAD stays mildly on the upside at this point. Corrective pattern from 1.3538 is in the third leg. Further rise would be seen to 1.3797 resistance and possibly above. On the downside, firm break of 1.3538/55 support zone will confirm resumption of whole decline from 1.4791.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3575; (P) 1.3596; (R1) 1.3625; More…

USD/CAD’s breach of 1.3666 resistance suggests that fall from 1.3797 has completed at 1.3555. Corrective pattern from 1.3538 is in the third leg. Intraday bias is back on the upside for 1.3797 resistance and possibly above. On the downside, firm break of 1.3538/55 support zone will confirm resumption of whole decline from 1.4791.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3575; (P) 1.3596; (R1) 1.3625; More…

Intraday bias in USD/CAD remains neutral at this point. On the downside, decisive break of 1.3538 will resume whole fall from 1.4791. Nevertheless, break of 1.3666 will turn bias to the upside, and extend the corrective pattern from 1.3538 with another rising leg to 1.3797 first.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

USD/CAD gyrated lower last week but lost momentum ahead of 1.3538 support. Initial bias is turned neutral this week first. On the downside, decisive break of 1.3538 will resume whole fall from 1.4791. Nevertheless, break of 1.3666 will turn bias to the upside, and extend the corrective pattern from 1.3538 with another rising leg to 1.3797 first.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3494) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3553; (P) 1.3589; (R1) 1.3620; More…

Intraday bias in USD/CAD stays mildly on the downside for retesting 1.3538 low. Firm break there will resume larger decline from 1.4791. On the upside, break of 1.3666 minor resistance will delay the bearish case, and extend the corrective pattern from 1.3538 will another rise back to 1.3797 resistance.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3565; (P) 1.3612; (R1) 1.3640; More…

Intraday bias in USD/CAD remains mildly on the downside for retesting 1.3538 low. Firm break there will resume larger decline from 1.4791. For now, risk will stay on the downside as long as 1.3797 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3603; (P) 1.3635; (R1) 1.3679; More…

Intraday bias in USD/CAD stays mildly on the downside for retesting 1.3538 low. Firm break there will resume larger decline from 1.4791. For now, risk will stay on the downside as long as 1.3797 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3619; (P) 1.3689; (R1) 1.3750; More…

Intraday bias in USD/CAD is back on the downside with break of 1.3616 temporary low. Retest of 1.3538 low should be seen first. Firm break there will resume larger decline from 1.4791. For now, risk will stay on the downside as long as 1.3797 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 1.3619; (P) 1.3689; (R1) 1.3750; More…

USD/CAD dips mildly today but stays in range of 1.3616/3797. Intraday bias remains neutral at this point. On the upside, break of 1.3797 will resume the rebound from 1.3538 short term bottom to 1.4014 cluster resistance (38.2% retracement of 1.4791 to 1.3538 at 1.4017). Nevertheless, below 1.3616 will bring retest of 1.3538 low.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

USD/CAD retreated after edging higher to 1.3797 last week but rebounded strongly since then. Initial bias is turned neutral this week first. On the upside, break of 1.3797 will resume the rebound from 1.3538 short term bottom to 1.4014 cluster resistance (38.2% retracement of 1.4791 to 1.3538 at 1.4017). Nevertheless, below 1.3616 will bring retest of 1.3538 low.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3494) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.