Mon, Mar 01, 2021 @ 13:09 GMT

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2632; (P) 1.2687; (R1) 1.2787; More….

USD/CAD’s rebound from 1.2466 could extend higher. But still, overall outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

USD/CAD Weekly Outlook

USD/CAD dropped further to 1.2466 last week but formed a short term bottom there and rebounded. Further rise could be seen this week. But overall outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2515; (P) 1.2565; (R1) 1.2662; More….

A temporary low was formed at 1.2466 with break of 1.2597 minor resistance. Intraday bias in USD/CAD is turned neutral for some consolidations. While stronger rise cannot be ruled out, outlook will stay bearish as long as 1.2880 resistance holds. On the downside, break of 1.2466 will resume larger down trend for 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2479; (P) 1.2539; (R1) 1.2572; More….

USD/CAD’s decline is still in progress and intraday bias stays on the downside at this point. Current down trend from 1.14667 should target 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, break of 1.2597 minor resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2564; (P) 1.2605; (R1) 1.2632; More….

Intraday bias in USD/CAD stays mildly on the downside for the moment. Current down trend from 1.14667 should target 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2745 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2581; (P) 1.2617; (R1) 1.2654; More….

Intraday bias in USD/CAD remains on the downside at this point. Current down trend from 1.14667 should target 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2745 resistance will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2570; (P) 1.2642; (R1) 1.2689; More….

USD/CAD’s breach of 1.2588 support argues that down trend from 1.4667 is resuming. Intraday bias stays on the downside. Next target is 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2745 resistance will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Weekly Outlook

USD/CAD’s fall from 1.2880 resumed last week and intraday bias stays on the downside this week for 1.2588 low. Firm break there will resume larger down from 1.4667. Next target is 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2745 resistance will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.2651; (P) 1.2691; (R1) 1.2717; More….

USD/CAD’s break of 1.2608 turns bias to the downside for 1.2588 low. Firm break there will resume larger down from 1.4667, to 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2745 resistance will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2651; (P) 1.2691; (R1) 1.2717; More….

Intraday bias in USD/CAD remains neutral and outlook is unchanged. Further fall is in favor with 1.2762 minor resistance intact. On the downside, firm break of 1.2588 will resume larger down from 1.4667, to 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2762 will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2675; (P) 1.2710; (R1) 1.2736; More….

Intraday bias in USD/CAD remains neutral for the moment, and further fall is in favor with 1.2762 minor resistance intact. On the downside, firm break of 1.2588 will resume larger down from 1.4667, to 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2762 will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2633; (P) 1.2668; (R1) 1.2726; More….

A temporary low was formed at 1.2608 in USD/CAD, just ahead of 1.588 low. Intraday bias is turned neutral first. Further fall is in favor with 1.2762 minor resistance intact. Firm break of 1.2588 will resume larger down from 1.4667, to 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2762 will extend the consolidation pattern from 1.2588 with another rise, towards 1.2880 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2621; (P) 1.2656; (R1) 1.2682; More….

Intraday bias in USD/CAD remains on the downside for 1.2588 low. Decisive break there will resume larger down trend from 1.4667. Next target is 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. On the upside, though, break of 1.2762 will extend the consolidation pattern from 1.2588 with another rise.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.2659; (P) 1.2711; (R1) 1.2745; More….

USD/CAD’s break of 1.2659 suggests resumption of fall from 1.2880. Intraday bias is back on the downside for retesting 1.2588 low. Decisive break there will resume larger down trend from 1.4667. On the upside, though, break of 1.2762 will extend the consolidation pattern from 1.2588 with another rise.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2659; (P) 1.2711; (R1) 1.2745; More….

Intraday bias in USD/CAD remains neutral at this point. On the downside, break of 1.2659 will argue that rebound from 1.2588 has completed at 1.2880. Intraday bias will be turned back to the downside for retesting 1.2588 low. On the upside, break of 1.2781 minor resistance will revive near term bullishness. Intraday bias will be turned back to the upside for 1.2880 and above, to resume the rebound from 1.2588.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Weekly Outlook

USD/CAD gyrated lower last week but recovered after hitting 1.2659. Initial bias is neutral this week first. On the downside, break of 1.2659 will argue that rebound from 1.2588 has completed at 1.2880. Intraday bias will be turned back to the downside for retesting 1.2588 low. On the upside, break of 1.2781 minor resistance will revive near term bullishness. Intraday bias will be turned back to the upside for 1.2880 and above, to resume the rebound from 1.2588.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2673; (P) 1.2692; (R1) 1.2723; More….

USD/CAD dipped to 1.2659 but couldn’t stay below 1.2684 support and recovered. Intraday bias stays neutral first. On the downside, break of 1.2659 will argue that rebound from 1.2588 has completed at 1.2880. Intraday bias will be turned back to the downside for retesting 1.2588 low. On the upside, break of 1.2781 minor resistance will revive near term bullishness. Intraday bias will be turned back to the upside for 1.2880 and above, to resume the rebound from 1.2588.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2674; (P) 1.2693; (R1) 1.2717; More….

Focus stays on 1.2685 minor support in USD/CAD. Firm break there will argue that rebound from 1.2588 has completed at 1.2880. Intraday bias will be turned back to the downside for retesting 1.2588 low. Nevertheless, rebound from current level, follow by break of 1.2880 resistance, will resume the rise from 1.2588 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2669; (P) 1.2718; (R1) 1.2743; More….

Intraday bias in USD/CAD remains neutral with focus on 1.2684 minor support. Break there will argue that rebound from 1.2588 has completed at 1.2880. Intraday bias will be turned back to the downside for retesting 1.2588 low. Nevertheless, rebound from current level, follow by break of 1.2880 resistance, will resume the rise from 1.2588 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2720; (P) 1.2751; (R1) 1.2768; More….

USD/CAD’s pull back from 1.2880 extends lower but it’s staying above 1.2684 minor support. Intraday bias remains neutral first and another rise could still be seen. on the upside, break of 1.2880 will resume the rebound form 1.2588 short term bottom to 1.2994 support turned resistance. However, break of 1.2684 minor support will argue that the rebound has completed and bring retest of 1.2588 low.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.