Sat, Jan 18, 2020 @ 08:41 GMT

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3032; (P) 1.3044; (R1) 1.3056; More….

Intraday bias in USD/CAD remains neutral for the moment. On the upside, firm break of 1.3102/4 resistance will confirm short term bottoming at 1.2951. Further rise should then be seen to 55 day EMA (now at 1.3142) and above. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3026; (P) 1.3052; (R1) 1.3069; More….

Intraday bias in USD/CAD remains neutral and outlook is unchanged. With 1.3102 resistance intact, further decline is expected. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3142) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3037; (P) 1.3052; (R1) 1.3073; More….

Intraday bias in USD/CAD stays neutral for the moment. With 1.3102 resistance intact, further decline is expected. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3142) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3037; (P) 1.3052; (R1) 1.3073; More….

Intraday bias in USD/CAD remains neutral first and outlook is unchanged. With 1.3102 resistance intact, further decline is expected. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3142) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3030; (P) 1.3053; (R1) 1.3077; More….

Intraday bias in USD/CAD remains neutral at this point. With 1.3102 resistance intact, further decline is expected. On the downside, break of 1.2951 will resume larger decline to 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3149) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Weekly Outlook

USD/CAD rose to 1.3104 last week but failed to sustain above 1.3102 support turned resistance and retreated. Outlook is unchanged that it’s in consolidation and larger decline is expected to continue. Initial bias is neutral this week first. On the downside, break of 1.2951 will turn bias to the downside for 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3149) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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) in in favor to resume through 1.4689 at a later stage.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3019; (P) 1.3062; (R1) 1.3098; More….

USD/CAD’s recovery from 1.2951 extended higher but couldn’t break through 1.3102 resistance so far. Outlook is unchanged and further decline remains in favor. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next. However, sustained break of 1.3102 will confirm short term bottoming and target 55 day EMA (now at 1.3152) and above.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2994; (P) 1.3019; (R1) 1.3062; More….

USD/CAD’s corrective recovery from 1.2951 extends higher but outlook in unchanged. Upside should be limited by 1.3102 resistance to bring fall resumption. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2963; (P) 1.2996; (R1) 1.3036; More….

Intraday bias in USD/CAD remains neutral as consolidation from 1.2951 is still in progress. In case of stronger recovery, upside should be limited by 1.3102 resistance to bring fall resumption. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2949; (P) 1.2974; (R1) 1.2989; More….

USD/CAD is staying in consolidation from 1.2951 temporary low and intraday bias remains neutral. In case of stronger recovery, upside should be limited by 1.3102 resistance to bring fall resumption. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2973; (P) 1.2989; (R1) 1.3017; More….

Intraday bias in USD/CAD remains neutral for consolidation above 1.2951 temporary low. Upside of recovery should be limited by 1.3102 resistance to bring another fall. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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USD/CAD Weekly Outlook

USD/CAD’s strong break of 1.3016 support last week confirmed resumption of whole decline from 1.3664. Though, as a temporary low as formed at 1.2951, initial bias is neutral this week for some consolidations first. Upside should be limited by 1.3102 resistance to bring another fall. On the downside, break of 1.2951 will target 100% projection of 1.3564 to 1.3016 from 1.3327 at 1.2779 next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 61.8% retracement of 1.2061 to 1.364 at 1.2673. Nevertheless, sustained break of 1.2673 will put focus on 1.2061 low.

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) in in favor to resume through 1.4689 at a later stage.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2969; (P) 1.2988; (R1) 1.3008; More….

With 4 hour MACD crossed above signal line, intraday bias in USD/CAD is turned neutral for some consolidations. Upside of recovery should be limited below 1.3102 support turned resistance to bring fall resumption. On the downside, break of 1.2951 will target 1.2673 fibonacci level next.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. With 38.2% retracement of 1.2061 to 1.364 at 1.3052 firmly taken out, further fall should be seen to 61.8% retracement at 1.2673 next. For now, risk will remain on the downside as long as 1.3327 resistance holds, even in case of strong rebound.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2947; (P) 1.2989; (R1) 1.3029; More….

USD/CAD dropped to as low as 1.2951 so far and there is no sign of bottoming. Intraday bias stays on the downside at this point. Current fall should now target 1.2673 fibonacci level next. ON the upside, above 1.3053 minor resistance will turn intraday bias neutral, and bring consolidations before staging another decline.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. With 38.2% retracement of 1.2061 to 1.364 at 1.3052 firmly taken out, further fall should be seen to 61.8% retracement at 1.2673 next. For now, risk will remain on the downside as long as 1.3327 resistance holds, even in case of strong rebound.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3052; (P) 1.3069; (R1) 1.3086; More….

Intraday bias in USD/CAD remains on the downside as fall from 1.3327 is extending. Focus is now on 1.3042 key support. Decisive break there will carry larger bearish implication and target 1.2673 next. On the upside, though, break of 1.3102 support turned resistance will indicate short term bottoming and turn bias back to the upside.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3058; (P) 1.3089; (R1) 1.3115; More….

Intraday bias in USD/CAD remains on the downside for 1.3042 key support. Decisive break here will carry larger bearish implications. On the upside, break of 1.3181 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.3087; (P) 1.3129; (R1) 1.3153; More….

USD/CAD’s break of 1.3102 suggests resumption of fall from 1.3327. Intraday bias is back on the downside for 1.3042 key support. Decisive break here will carry larger bearish implications. On the upside, break of 1.3181 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3087; (P) 1.3129; (R1) 1.3153; More….

USD/CAD is staying in consolidation from 1.3102 and intraday bias remains neutral first. With 1.3185 minor resistance intact, further fall remains in favor. On the downside, break of 1.3102 will resume the fall from 1.3327 and target 1.3042 key support next. On the upside, above 1.3185 will suggest short term bottoming and turn bias back to the upside for retest 1.3327 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3111; (P) 1.3191; (R1) 1.3241; More….

USD/CAD is staying in range above 1.3102 and intraday bias remains neutral first. On the upside, considering bullish convergence condition in 4 hour MACD, break of 1.3185 resistance will indicate short term bottoming. Fall from 1.3327 could have completed in this case. Intraday bias will be turned back to the upside for 1.3327 resistance. On the downside, break of 1.3102 will target 1.3042 key support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3125; (P) 1.3153; (R1) 1.3183; More….

Intraday bias in USD/CAD remains neutral at this point. On the upside, considering bullish convergence condition in 4 hour MACD, break of 1.3185 resistance will indicate short term bottoming. Fall from 1.3327 could have completed in this case. Intraday bias will be turned back to the upside for 1.3327 resistance. On the downside, break of 1.3102 will target 1.3042 key support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.364 at 1.3052 remains intact. Medium term rise from 1.2061 low is in favor to resume sooner or later. Firm break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will confirm and target 1.4689 high. However, sustained break of 1.3052 will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next.

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