Sun, Mar 29, 2020 @ 21:13 GMT

USD/CAD Weekly Outlook

USD/CAD’s correction from 1.4667 extended lower last week and outlook is unchanged. Further decline could be seen initially this week. But downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, above 1.4275 minor resistance will turn bias back to the upside for retesting 1.4667 first.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will target 61.8% projection of 0.9406 to 1.4689 from 1.2951 at 1.6216. That is close to 1.6196 (2002 high).

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3929; (P) 1.4103; (R1) 1.4194; More….

USD/CAD’s correction from 1.4667 is extending and deeper pull back could be seen. But downside should be contained well above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4084; (P) 1.4284; (R1) 1.4390; More….

No change in USD/CAD’s outlook as consolidation from 1.4667 is in progress. Downside should be contained well above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4373; (P) 1.4452; (R1) 1.4530; More….

USD/CAD drops mildly today as consolidation from 1.4667 is extending. Deeper pull back could be seen. But downside should be contained well above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4394; (P) 1.4477; (R1) 1.4617; More….

USD/CAD is staying in consolidation from 1.4667 and intraday bias remains neutral first. Deeper pull back cannot be ruled out. But downside should be contained above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4145; (P) 1.4341; (R1) 1.4532; More….

Intraday bias in USD/CAD remains neutral for consolidation below 1.4667. Deeper pull back cannot be ruled out. But downside should be contained above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Weekly Outlook

USD/CAD’s rally accelerated to as high as 1.4667 last week, but missed 1.4689 key resistance and pulled back. A short term top is formed and initial bias is neutral this week for consolidations first. Downside should be contained above 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, sustained break of 1.4689 will confirm larger up trend resumption.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will target 61.8% projection of 0.9406 to 1.4689 from 1.2951 at 1.6216. That is close to 1.6196 (2002 high).

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4384; (P) 1.4527; (R1) 1.4632; More….

A temporary top is formed at 1.4667 in USD/CAD, ahead of 1.4689 key resistance, with the current retreat. Intraday bias is turned neutral first. Further rise is expected as long as 1.4166 support holds. Break of 1.4689 will confirm resumption of larger up trend. Nevertheless, break of 1.4166 will indicate short term topping and turn outlook neutral for lengthier consolidations.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4198; (P) 1.4229; (R1) 1.4292; More….

USD/CAD’s rally accelerates to as high as 1.4667 so far. Intraday bias remains on the upside with focus on 1.4689 key resistance. Decisive break there will confirm larger up trend resume. Next target is 1.5545 medium term projection level. On the downside, break of 1.4168 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rise from 1.2061 is likely resuming whole up trend from 0.9056 (2007 low). Decisive break of 1.4689 will confirm. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection form 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.4006; (P) 1.4142; (R1) 1.4322; More….

Intraday bias in USD/CAD remains on the upside for the moment. Current rally should target medium term projection at 1.4554. On the downside, below 1.3960 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Next upside target is 100% projection of 1.2061 to 1.3664 from 1.2951 at 1.4554, which is close to 1.4689 (2016 high). Initial resistance could be seen between 1.4554/4689 to bring pull back. Decisive break there will confirm long term up trend resumption.

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USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.3820; (P) 1.3919; (R1) 1.4105; More….

USD/CAD surges to as high as 1.4164 so far and intraday bias remains on the upside. Next target is 261.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.4192. Sustained break there will pave the way to medium term projection at 1.4554. On the downside, below 1.3960 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Next upside target is 100% projection of 1.2061 to 1.3664 from 1.2951 at 1.4554, which is close to 1.4689 (2016 high). Initial resistance could be seen between 1.4554/4689 to bring pull back. Decisive break there will confirm long term up trend resumption.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3820; (P) 1.3919; (R1) 1.4105; More….

USD/CAD’s rally resumed after brief consolidation and intraday bias is back on the upside. Current rise should target 261.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.4192. On the downside, break of 1.3726 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Sustained break of 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 will pave the way to 100% projection at 1.4554, which is close to 1.4689 (2016 high). For now, this will remain the favored case as long as 1.3329 resistance turned support holds, in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3728; (P) 1.3861; (R1) 1.3940; More….

Intraday bias in USD/CAD remains neutral for consolidation below 1.3995 temporary top. Deeper retreat might be seen but downside should be contained well above 1.3329 resistance turned support to bring rally resumption. Break of 1.3995 will pave the way to 261.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.4192.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Sustained break of 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 will pave the way to 100% projection at 1.4554, which is close to 1.4689 (2016 high). For now, this will remain the favored case as long as 1.3329 resistance turned support holds, in case of deep pull back.

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USD/CAD Weekly Outlook

USD/CAD surged to as high as 1.3995 last week as up trend extended. A temporary top is likely formed after meeting 200% projection projection of 1.2951 to 1.3329 from 1.3202 at 1.3958. Initial bias is neutral this week for some consolidations first. Downside of retreat should be contained well above 1.3329 resistance turned support to bring rally resumption. Break of 1.3995 will pave the way to 261.8% projection at 1.4192.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Sustained break of 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 will pave the way to 100% projection at 1.4554, which is close to 1.4689 (2016 high). For now, this will remain the favored case as long as 1.3329 resistance turned support holds, in case of deep pull back.

In the longer term picture, outlook remains unchanged that price actions from 1.4689 (2016 high) are forming a corrective pattern. As long as 1.2061 support holds. Up trend from 0.9406 (2011 low) is in favor to resume through 1.4689 at a later stage.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3781; (P) 1.3871; (R1) 1.4035; More….

USD/CAD’s rally extend further to 1.3961 and met 200% projection projection of 1.2951 to 1.3329 from 1.3202 at 1.3958. There is no clear sign of topping yet. Intraday bias stays on the upside for now. Next upside target is 261.8% projection at 1.4192. On the downside, though, break of 1.3707 minor support will indicate short term topping and bring lengthier consolidations first.

In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Sustained break of 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 will pave the way to 100% projection at 1.4554, which is close to 1.4689 (2016 high). For now, this will remain the favored case as long as 1.3329 resistance turned support holds, in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3719; (P) 1.3757; (R1) 1.3832; More….

USD/CAD has met 161.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.3814. While upside momentum is diminishing, there is no sign of topping yet. Intraday bias stays on the upside 200% projection at 1.3958 next. On the downside, break of 1.3681 minor support will indicate short term topping and bring lengthier consolidations first.

In the bigger picture, price actions from 1.3664 (2018 high) are seen as a corrective move that has completed at 1.2951. Rise from 1.2061 (2017 low) should be ready to resume. Decisive break 1.3664 will target 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 next. For now, this will remain the favored case as long as 1.3202 support holds, in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3631; (P) 1.3713; (R1) 1.3818; More….

Intraday bias in USD/CAD remains on the upside at this point. Current rally target 161.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.3814 first. Break will target 200% projection at 1.3958 next. On the downside, below 1.3517 minor support will turn intraday bias neutral first. But outlook will remain bullish as long as 1.3202 support holds.

In the bigger picture, price actions from 1.3664 (2018 high) are seen as a corrective move that has completed at 1.2951. Rise from 1.2061 (2017 low) should be ready to resume. Decisive break 1.3664 will target 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 next. For now, this will remain the favored case as long as 1.3202 support holds, in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3558; (P) 1.3658; (R1) 1.3799; More….

Outlook in USD/CAD remains bullish with 1.3464 resistance turned support intact. Current rally should target 161.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.3814 next. Though, break of 1.3464 will indicate short term topping and bring lengthier consolidations first.

In the bigger picture, price actions from 1.3664 (2018 high) are seen as a corrective move that has completed at 1.2951. Rise from 1.2061 (2017 low) should be ready to resume. Decisive break 1.3664 will target 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 next. For now, this will remain the favored case as long as 1.3202 support holds, in case of deep pull back.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3389; (P) 1.3414; (R1) 1.3449; More….

USD/CAD breaks through 1.3464 resistance decisively today and hits as high as 1.3761 so far. Near term outlook will remain bullish as long as 1.3464 resistance turned support holds. Further rally should be seen to 161.8% projection of 1.2951 to 1.3329 from 1.3202 at 1.3814 next.

In the bigger picture, price actions from 1.3664 (2018 high) are seen as a corrective move that has completed at 1.2951. Rise from 1.2061 (2017 low) should be ready to resume. Decisive break 1.3664 will target 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 next. For now, this will remain the favored case as long as 1.3202 support holds, in case of deep pull back.

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USD/CAD Weekly Outlook

USD/CAD stayed in consolidation from 1.3464 last week and outlook is unchanged. Initial bias stays neutral first and another fall cannot be ruled out. But downside should contained well above 1.3202 support to bring rise resumption. On the upside, break of 1.3464 will extend the rally from 1.2951 to 100% projection of 1.2951 to 1.3329 from 1.3202 at 1.3580 next.

In the bigger picture, price actions from 1.3664 (2018 high) are seen as a corrective move that has likely completed at 1.2951. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break 1.3664 will target 61.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.3941 next. For now, this will remain the favored case as long as 1.3202 support holds, in case of deep pull back.

In the longer term picture, outlook remains unchanged that price actions from 1.4689 (2016 high) are forming a corrective pattern. As long as 1.2061 support holds. Up trend from 0.9406 (2011 low) is in favor to resume through 1.4689 at a later stage.

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