Daily Pivots: (S1) 1.3934; (P) 1.3955; (R1) 1.3972; More…

Intraday bias in USD/CAD stays neutral for the moment, and further fall remains in favor. Break of 1.3936 will target 38.2% retracement of 1.3538 to 1.4139 at 1.3909. Sustained break there will indicate that whole rise from 1.3538 has completed. Deeper fall should then be seen to 61.8% retracement at 1.3768 next. On the upside, though, break of 1.4013 resistance will retain near term bullishness, and bring retest of 1.4139 high.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3952; (P) 1.3984; (R1) 1.4000; More…

Intraday bias in USD/CAD remains neutral and some more consolidations could be seen above 1.3936. Risk will stay on the downside as long as 55 4H EMA(now at 1.4021) holds. Below 1.3936 will target 38.2% retracement of 1.3538 to 1.4139 at 1.3909. Sustained break there will indicate that whole rise from 1.3538 has completed. Deeper fall should then be seen to 61.8% retracement at 1.3768 next. However, firm break of 55 4H EMA will retain near term bullishness, and bring retest of 1.4139 high.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3968; (P) 1.3985; (R1) 1.4015; More…

USD/CAD recovered ahead of near term channel support and intraday bias is turned neutral first. Some consolidations could be seen above 1.3936 temporary low. But risk will stay mildly on the downside as long as 55 4H EMA(now at 1.4033) holds. Below 1.3936 will target 38.2% retracement of 1.3538 to 1.4139 at 1.3909. Sustained break there will indicate that whole rise from 1.3538 has completed. Deeper fall should then be seen to 61.8% retracement at 1.3768 next. However, fir break of 55 4H EMA will retain near term bullishness, and bring retest of 1.4139 high.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3928; (P) 1.3990; (R1) 1.4041; More…

USD/CAD’s fall accelerates lower today, and considering bearish divergence condition in D MACD, break of 1.3920 support is the first sign of bearish reversal. Intraday bias is back on the downside, and decisive break of 38.2% retracement of 1.3538 to 1.4139 at 1.3909 will indicate that whole rise from 1.3538 has completed. Deeper fall should then be seen to 61.8% retracement at 1.3768 next. For now, risk will stay on the downside as long as 1.4129 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4022; (P) 1.4037; (R1) 1.4045; More…

USD/CAD is still bounded in consolidations below 1.4139 and intraday bias remains neutral. Further rally is expected with 1.3970 support intact. On the upside, decisive break of 1.4139 resistance will resume whole rally from 1.3538. Next target is 61.8% retracement of 1.4791 to 1.3538 at 1.4312. However, firm break of 1.3970 will suggest near term reversal, and bring deeper fall back to 1.3886 support.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4016; (P) 1.4062; (R1) 1.4088; More…

No change in USD/CAD’s outlook as range trading continues below 1.4139. Intraday bias remains neutral for the moment. Further rally is expected with 1.3970 support intact. On the upside, decisive break of 1.4139 resistance will resume whole rally from 1.3538. Next target is 61.8% retracement of 1.4791 to 1.3538 at 1.4312. However, firm break of 1.3970 will suggest near term reversal, and bring deeper fall back to 1.3886 support.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4084; (P) 1.4105; (R1) 1.4119; More…

USD/CAD failed to break through 1.4139 resistance and retreated. Intraday bias remains neutral and more consolidations could be seen. Further rally is expected with 1.3970 support intact. On the upside, decisive break of 1.4139 resistance will resume whole rally from 1.3538. Next target is 61.8% retracement of 1.4791 to 1.3538 at 1.4312.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4093; (P) 1.4106; (R1) 1.4120; More…

No change in USD/CAD’s outlook and intraday bias stays neutral. Further rally is expected with 1.3970 support intact. On the upside,f decisive break of 1.4139 resistance will resume whole rally from 1.3538. Next target is 61.8% retracement of 1.4791 to 1.3538 at 1.4312.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4078; (P) 1.4105; (R1) 1.4127; More…

Intraday bias in USD/CAD stays neutral first. On the upside decisive break of 1.4139 will resume larger rally from 1.3538 and target 61.8% retracement of 1.4791 to 1.3538 at 1.4312. Risk will stay on the upside as long as 1.3970 support holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

USD/CAD rebounded strongly after initial dip to 1.3970 last week, but upside is capped below 1.4139 resistance for now. Initial bias remains neutral this week first. Outlook stays bullish as rally from 1.3538 is in progress. Break of 1.4139 will confirm resumption and target 61.8% retracement of 1.4791 to 1.3538 at 1.4312. Risk will stay on the upside as long as 1.3970 support holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

In the long term picture, rising 55 M EMA (now at 1.3562) remains intact. Thus, up trend from 0.90567 (2007 low) should still be in progress. However, considering bearish divergence condition M MACD, sustained trading below 55 M EMA will argue that the up trend has completed with five waves up to 1.4791, and turn medium term outlook bearish for correction.

Daily Pivots: (S1) 1.4058; (P) 1.4082; (R1) 1.4125; More…

USD/CAD’s strong break of 1.4061 resistance should finally confirm that pullback from 1.4139 has completed at 1.3970. Intraday bias is back on the upside. Break of 1.4139 will resume larger rise from 1.3538 towards 61.8% retracement of 1.4791 to 1.3538 at 1.4312. For now, risk will stay on the upside as long as 1.3970 support holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4000; (P) 1.4033; (R1) 1.4082; More…

Intraday bias in USD/CAD is turned neutral again with current recovery. On the upside, firm break of 1.4061 resistance will indicate that pullback from 1.4139 has already completed, and bring stronger rally to retest this high. Nevertheless, break of 1.3970 will extend the pullback towards 1.3886 support. Strong rebound should be seen there to preserve the whole rally from 1.3538.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3954; (P) 1.4008; (R1) 1.4045; More…

USD/CAD’s pullback from 1.4139 resumed by breaking through 1.3984 and intraday bias is back on the downside. Deeper fall would be seen towards 1.3886 support. But strong rebound should be seen there to preserve the whole rally from 1.3538. On the upside, above 1.4061 will turn bias to the upside for retesting 1.4139.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4028; (P) 1.4044; (R1) 1.4072; More…

The extended rebound for 1.3984 suggests that pullback from 1.4139 has already completed. Intraday bias in USD/CAD is back on the upside for retesting 1.4139. Firm break there will resume the whole rally from 1.3538. On the downside through, below 1.4016 will resume the fall from 1.4139 through 1.3984 instead.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4010; (P) 1.4028; (R1) 1.4041; More…

Intraday bias in USD/CAD remains neutral for the moment. On the upside, firm break of 1.4039 minor resistance will bring stronger rebound to retest 1.4139 high. On the downside, below 1.3984 will target 1.3886 support next. Overall, rise from 1.3538 is in favor to continue as long as 1.3886 support holds.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

USD/CAD’s pullback from 1.4139 short term top extended lower to 1.3984 last week and recovered. Initial bias remains neutral this week first. Firm break of 1.4039 minor resistance will bring stronger rebound to retest 1.4139 high. On the downside, below 1.3984 will target 1.3886 support next. Overall, rise from 1.3538 is in favor to continue as long as 1.3886 support holds.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

In the long term picture, rising 55 M EMA (now at 1.3543) remains intact. Thus, up trend from 0.90567 (2007 low) should still be in progress. However, considering bearish divergence condition M MACD, sustained trading below 55 M EMA will argue that the up trend has completed with five waves up to 1.4791, and turn medium term outlook bearish for correction.

Daily Pivots: (S1) 1.4001; (P) 1.4020; (R1) 1.4054; More…

Intraday bias in USD/CAD is turned neutral first with current recovery. Firm break of 1.4039 minor resistance will argue that the pullback from 1.4139 has completed. Bias will be flipped back to the upside for retesting 1.4139. Further break there will resume the rally from 1.3538 to 61.8% retracement of 1.4791 to 1.3538 at 1.4312. On the downside, below 1.3984 will extend the fall from 1.4139 towards 1.3886 support.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3990; (P) 1.4006; (R1) 1.4023; More…

Intraday bias in USD/CAD stays mildly on the downside for the moment. Fall from 1.4139 short term top would extend towards 1.3886 support. On the upside, above 1.4039 minor resistance, however, will argue that the pullback has completed. Bias will be flipped back to the upside for retesting 1.4139. Further break there will resume the rally from 1.3538 to 61.8% retracement of 1.4791 to 1.3538 at 1.4312.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.4001; (P) 1.4021; (R1) 1.4040; More…

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 1.3996; (P) 1.4027; (R1) 1.4053; More…

No change in USD/CAD’s outlook and intraday bias stays mildly on the downside. . Fall from 1.4139 short term top would extend towards 1.3886 support. On the upside, break of 1.4139 will resume the rally from 1.3538 to 61.8% retracement of 1.4791 to 1.3538 at 1.4312.

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.