USD/CAD’s late break of 1.3749 confirms resumption of the whole decline from 1.4791. Initial bias is back on the downside this week. Next near term target if 61.8% projection of 1.4414 to 1.3749 from 1.4014 at 1.3603. On the upside, above 1.3812 minor resistance will turn intraday bias neutral again first. But outlook will remain bearish as long as 1.4014 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3476) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3840; (P) 1.3864; (R1) 1.3883; More…

Intraday bias in USD/CAD remains mildly on the downside at this point. Deeper decline should be seen for retesting 1.3479 low, or further to 1.3727 key fibonacci level. Nevertheless, break of 1.3888 minor resistance will turn bias back to the upside, to extend the corrective pattern from 1.3749 with another rising leg.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3808; (P) 1.3865; (R1) 1.3917; More…

Intraday bias in USD/CAD remains on the downside for the moment. Rebound from 1.3749 could have completed as a correction at 1.4014. Deeper fall should be seen for retesting 1.3749. Firm break there will resume whole decline from 1.4791. For now, risk will remain on the downside as long as 1.4014 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3894; (P) 1.3931; (R1) 1.3954; More…

USD/CAD’s break of 1.3898 support suggests that rebound from 1.3749 has completed as a correction at 1.4014. Intraday bias is back on the downside for retesting 1.3749. Firm break there will resume whole fall from 1.4791. For now, risk will remain on the downside as long as 1.4014 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3920; (P) 1.3947; (R1) 1.3977; More…

Sideway trading continues in USD/CAD below 1.4014 and intraday bias stays neutral. Further rise is in favor with 1.3898 support intact. On the upside, above 1.4014 will resume the rebound from 1.3749 short term bottom to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, firm break of 1.3898 will bring retest of 1.3749 low instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3937; (P) 1.3967; (R1) 1.3998; More…

Intraday bias in USD/CAD remains neutral and further rise is expected with 1.3898 support intact. Above 1.4014 will resume the rebound from 1.3749 short term bottom to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, firm break of 1.3898 will bring retest of 1.3749 low instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

USD/CAD rose to 1.4014 last week but turned sideway since then. Initial bias remains neutral this week, and further rise is expected as long as 1.3898 support holds. Above 1.4014 will resume the rebound from 1.3749 short term bottom to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, firm break of 1.3898 will bring retest of 1.3749 low instead.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3493) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3942; (P) 1.3973; (R1) 1.3991; More…

Intraday bias in USD/CAD stays neutral a this point. Further rise is in favor with 1.3898 minor support intact. Above 1.4014 will resume the rebound from 1.3749 to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, break of 1.3898 minor support will indicate that the rebound has completed, and bring retest of 1.3749.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3928; (P) 1.3957; (R1) 1.4012; More…

Intraday bias in USD/CAD remains neutral for the moment. Further rise is in favor with 1.3898 minor support intact. Above 1.4014 will resume the rebound from 1.3749 to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, break of 1.3898 minor support will indicate that the rebound has completed, and bring retest of 1.3749.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3906; (P) 1.3961; (R1) 1.3991; More…

Intraday bias in USD/CAD is turned neutral first with current retreat. On the upside, break of 55 D EMA (now at 1.4038) will resume the rebound from 1.3749 to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, break of 1.3898 minor support will indicate that the rebound from 1.3749 has completed, and bring retest of this low.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3910; (P) 1.3963; (R1) 1.4028; More…

Intraday bias in USD/CAD remains on the upside as rebound from 1.3749 short term bottom is in progress. Break of 55 D EMA (now at 1.4043) will target 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). On the downside, below 1.3898 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3916; (P) 1.3930; (R1) 1.3954; More…

Intraday bias in USD/CAD stays mildly on the upside at this point. Rebound from 1.3749 short term bottom would target 55 D EMA (now at 1.4053). Break there will target 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). For now, risk will remain on the upside as long as 1.3749 holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

USD/CAD’s extended recovery last week indicates short term bottoming at 1.3749. Initial bias stays on the upside this week for 55 D EMA (now at 1.4053). Break there will target 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). For now, risk will remain on the upside as long as 1.3749 holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3488) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3847; (P) 1.3890; (R1) 1.3966; More…

USD/CAD’s break of 1.3903 resistance indicates short term bottoming at 1.3749, on bullish convergence condition in 4H MACD, ahead of 1.3727 fibonacci level. Intraday bias is back on the upside for 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). For now, risk will remain on the upside as long as 1.3749 holds, in case of retreat.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3789; (P) 1.3814; (R1) 1.3864; More…

Intraday bias in USD/CAD is neutral for the moment. Considering bullish convergence condition in 4H MACD, firm break of 1.3903 resistance should confirm short term bottoming at 1.3749, ahead of 1.3727 fibonacci level. Intraday bias will be back on the upside for 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147).

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3736; (P) 1.3791; (R1) 1.3830; More…

No change in USD/CAD’s outlook and further decline remains mildly in favor with 1.3903 resistance intact, for 1.3727 fibonacci level next. However, considering bullish convergence condition in 4H MACD, firm break of 1.3903 resistance should indicate short term bottoming, and turn bias back to the upside for stronger rebound to 55 D EMA (now at 1.4056).

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3797; (P) 1.3814; (R1) 1.3840; More…

Further decline is mildly in favor with 1.3903 resistance intact, for 1.3727 fibonacci level next. However, considering bullish convergence condition in 4H MACD, firm break of 1.3903 resistance should indicate short term bottoming, and turn bias back to the upside for stronger rebound to 55 D EMA (now at 1.4068).

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

Daily Pivots: (S1) 1.3764; (P) 1.3813; (R1) 1.3866; More…

Intraday bias in USD/CAD stays mildly on the downside at this point. Fall from 1.4791 is in progress for 1.3727 fibonacci level next. On the upside, however, firm break of 1.3903 resistance should indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

USD/CAD gyrated lower last week despite weak momentum. Initial bias is mildly on the downside this week for 1.3727 fibonacci level next. On the upside, however, firm break of 1.3903 resistance should indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.

In the long term picture, as long as 55 M EMA (now at 1.3488) holds, up trend from 0.9056 (2007 low) should still resume through 1.4791 at a later stage. However, sustained trading below 55 M EMA will argue that the up trend has already completed, with rise from 1.2005 to 1.4791 as the fifth wave. 1.4791 would then be seen as a long term top and deeper medium term down trend should then follow.

Daily Pivots: (S1) 1.3804; (P) 1.3834; (R1) 1.3883; More…

Intraday bias in USD/CAD is turned neutral again with current recovery. Deeper fall is expected as long as 1.3903 resistance holds. Below 1.3768 temporary low will resume the decline from 1.4791 to 1.3727 fibonacci level next. However, firm break of 1.3903 will indicate short term bottoming, and turn bias back to the upside for stronger rebound towards 55 D EMA (now at 1.4086).

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.