Mon, Nov 18, 2019 @ 01:42 GMT

USD/CAD Weekly Outlook

USD/CAD edged higher to 1.3270 last week but formed a temporary top there and retreated. Initial bias is neutral this week for some consolidations first. Downside should be contained by 1.3159 minor support to bring another rally. On the upside, above 1.3270 will target 1.3347/82 resistance zone. Firm break there will suggest completion of consolidation from 1.3664. However, break of 1.3159 will indicate completion of the rebound and turn bias back to the downside for 1.3042 support.

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.

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) 1.3239; (P) 1.3255; (R1) 1.3266; More

USD/CAD formed a temporary top at 1.3270 and retreated. Intraday bias is turned neutral for some consolidations first. Downside should be contained by 1.3159 minor support to bring another rally. Above 1.3270 will turn intraday bias to the upside and extend the rise from 1.3042 to 1.3347/82 resistance zone. However, break of 1.3159 will indicate completion of the rebound and turn bias back to the downside for 1.3042 support.

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) 1.3234; (P) 1.3251; (R1) 1.3270; More

Intraday bias in USD/CAD remains on the upside as rise from 1.3042 is in progress for 1.3347/82 resistance zone. Firm break there will suggest completion of consolidation from 1.3664. On the downside, below 1.3197 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds.

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) 1.3217; (P) 1.3237; (R1) 1.3258; More

Intraday bias in USD/CAD stays on the upside at this point. Rise from 1.3042 is in progress for 1.3347/82 resistance zone. Firm break there will suggest completion of consolidation from 1.3664. On the downside, below 1.3159 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds.

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) 1.3188; (P) 1.3212; (R1) 1.3252; More

Intraday bias in USD/CAD remains on the upside at this point. Current rise from 1.3042 should target 1.3347/82 resistance zone. Firm break there will suggest completion of consolidation from 1.3664. On the downside, below 1.3159 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds.

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 Weekly Outlook

USD/CAD’s rebound from 1.3042 resumed last week and hit as high as 1.3237. Initial bias stays on the upside this week for 1.3347/82 resistance zone. Firm break there will suggest completion of consolidation from 1.3664. On the downside, below 1.3159 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds.

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.

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 Mid-Day Outlook

Daily Pivots: (S1) 1.3157; (P) 1.3177; (R1) 1.3194; More

USD/CAD’s rebound from 1.3042 resumed by taking out 1.3208 and reaches as high as 1.3231 so far. Intraday bias is back on the upside for 1.3347/82 resistance zone next. on the downside, break of 1.3159 minor support will turn intraday bias neutral again first. For now, further rally would remain in favor as long as 1.3042 support holds.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3157; (P) 1.3177; (R1) 1.3194; More

Intraday bias in USD/CAD remains neutral for consolidation below 1.3208. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3154; (P) 1.3174; (R1) 1.3203; More

USD/CAD is staying in consolidation from 1.3208 and intraday bias remains neutral first. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3135; (P) 1.3147; (R1) 1.3165; More

Intraday bias in USD/CAD remains neutral for consolidation below 1.3208 temporary low. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3135; (P) 1.3147; (R1) 1.3165; More

Intraday bias in USD/CAD stays neutral first. Outlook is unchanged that a short term bottom was formed at 1.3042, ahead of 1.3016 key support. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3121; (P) 1.3159; (R1) 1.3178; More

Intraday bias in USD/CAD remains neutral for some consolidations below 1.3208 temporary top. Outlook is unchanged that a short term bottom was formed at 1.3042, ahead of 1.3016 key support. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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 Weekly Outlook

USD/CAD’s strong rebound last week suggests short term bottoming at 1.3042, ahead of 1.3016 key support. With a 1.3208 temporary top, initial bias is neutral this week first. Downside of retreat should be contained well above 1.3042 to bring another rise. On the upside, break of 1.3042 will target 1.3347 resistance next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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.

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) 1.3141; (P) 1.3160; (R1) 1.3183; More

Intraday bias in USD/CAD remains mildly on the upside for the moment. Rebound from 1.3042 short term bottom should extend higher. Sustained break of 55 day EMA (now at 1.3202) will bring further rise to 1.3382 resistance. For now, in case of another retreat, downside should be contained above 1.3042 to bring rise resumption.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3088; (P) 1.3149; (R1) 1.3222; More

Intraday bias in USD/CAD remains on the upside at this point. A short term bottom should be formed at 1.3042, ahead of 1.3016 key support. Sustained break of 55 day EMA (now at 1.3202) will bring further rise to 1.3382 resistance. For now, in case of another retreat, downside should be contained above 1.3042 to bring rise resumption.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3053; (P) 1.3077; (R1) 1.3111; More

USD/CAD’s break of 1.3122 resistance suggests that a short term bottom is formed at 1.3042, ahead of 1.3016 key support. Intraday bias is turned back to the upside for 55 day EMA (now at 1.3202). Sustained break there will bring further rise to 1.3382 resistance. For now, in case of another fall, downside should be contained above 1.3042 to bring rise resumption.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3053; (P) 1.3077; (R1) 1.3111; More

A temporary low is formed at 1.3042 in USD/CAD, ahead of 1.3016 key support. Intraday bias is turned neutral first. On the upside, break of 1.3122 minor resistance will confirm short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.3202). On the downside, however, decisive break of 1.3016 will carry larger bearish implications and target 1.2781 support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3044; (P) 1.3062; (R1) 1.3073; More

Further decline is expected in USD/CAD with focus on 1.3016. Considering loss of downside momentum, we’d expect strong support from there to contain downside to bring rebound. On the upside, break of 1.3122 minor resistance will turn bias back to the upside for 55 day EMA (now at 1.3205). However, decisive break of 1.3016 will carry larger bearish implications and target 1.2781 support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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) 1.3052; (P) 1.3064; (R1) 1.3073; More

Considering loss of downside momentum as seen in 4 hour MACD, we’d expect strong support from 1.3016 to contain downside to bring rebound. On the upside, break of 1.3122 minor resistance will turn bias back to the upside for 55 day EMA (now at 1.3212). However, decisive break of 1.3016 will carry larger bearish implications and target 1.2781 support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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 Weekly Outlook

USD/CAD spiral lower last week with diminishing downside momentum, as seen in 4 hour MACD. While further decline might be seen initially this week, we’d expect strong support from 1.3016 to contain downside and bring rebound. ON the upside, break of 1.3122 minor resistance will turn bias back to the upside for 55 day EMA (now at 1.3217). However, decisive break of 1.3016 will carry larger bearish implications and target 1.2781 support next.

In the bigger picture, 38.2% retracement of 1.2061 to 1.3664 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.

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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