Daily Pivots: (S1) 1.3487; (P) 1.3573; (R1) 1.3725; More…

USD/CAD continues to lose upside momentum ahead of 1.3685 fibonacci level. But with 1.3566 minor support intact, further rise is still in favor. Decisive break of 1.3685 will target 1.3793 key medium term resistance next. On the downside, break of 1.3566 will indicate short term topping and bring deeper pull back to 55 day EMA (now at 1.3319).

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2993) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

Daily Pivots: (S1) 1.3568; (P) 1.3614; (R1) 1.3665; More…

USD/CAD continues to lose upside momentum in as seen in 4 hour MACD. But intraday bias on the upside with 1.3566 minor support intact. Current rally should target 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On the downside, below 1.3566 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained above 1.3322 support to bring another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2991) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

Daily Pivots: (S1) 1.3555; (P) 1.3586; (R1) 1.3606; More…

USD/CAD’s rally continues today and reaches as high as 1.3639 so far. Intraday bias remains on the upside for 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On the downside, below 1.3566 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained above 1.3322 support to bring another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2991) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

Daily Pivots: (S1) 1.3555; (P) 1.3586; (R1) 1.3606; More…

Despite diminishing upside momentum as seen in 4 hour MACD, with 1.3511 minor support intact, further rise is expected in USD/CAD to 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On the downside, below 1.3511 minor support will bring lengthier consolidation. But downside should be contained above 1.3322 support to bring another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2991) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

Daily Pivots: (S1) 1.3403; (P) 1.3769; (R1) 1.3959; More…

USD/CAD is losing some upside momentum as seen in 4 hour MACD. But there is no sign of topping yet. Intraday bias remains on the upside at this point. Current rally should target 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On the downside, below 1.3511 minor support will turn intraday bias neutral first. But downside should be contained above 1.3322 support to bring another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2991) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

USD/CAD’s up trend extended to as high as 1.3600 last week and showed acceleration as seen in daily MACD. Intraday bias remains on the upside at this point. Current rally should target 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On the downside, below 1.3511 minor support will turn intraday bias neutral first. But downside should be contained above 1.3322 support to bring another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. At this point, the structure is not clearly impulsive yet. Hence, we’d be cautious on topping between 1.3685/3793. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.2991) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. The development keeps long term up trend from 0.9406 and that from 0.9056 (2007 low) intact. For now, there is prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3426; (P) 1.3466; (R1) 1.3518; More…

Intraday bias in USD/CAD remains on the upside. Rise from 1.2781 is part of the up trend from 1.2061 and would target 1.3685 fibonacci level next. On the downside, below 1.3415 minor support will turn intraday bias neutral first and bring consolidations. But retreat should be contained well above 1.3164 support to bring rise resumption.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2972) holds.

Daily Pivots: (S1) 1.3426; (P) 1.3466; (R1) 1.3518; More…

Intraday bias in USD/CAD remains on the upside at this point. Rise from 1.2781 is part of the up trend from 1.2061 and would target 1.3685 fibonacci level next. On the downside, below 1.3415 minor support will turn intraday bias neutral first and bring consolidations. But retreat should be contained well above 1.3164 support to bring rise resumption.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2972) holds.

Daily Pivots: (S1) 1.3406; (P) 1.3451; (R1) 1.3512; More…

USD/CAD’s rally resumed by breaking 1.3444 resistance and hits as high as 1.3496 so far. Intraday bias is back on the upside. Current rise is part of the up trend from 1.2061 and would target 1.3685 fibonacci level next. On the downside, below 1.3390 minor support will turn bias neutral and bring consolidations, before staging another rally.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2972) holds.

Daily Pivots: (S1) 1.3380; (P) 1.3401; (R1) 1.3430; More…

USD/CAD recovers further today but it’s, after all, still bounded in range below 1.3444. Consolidation might extend and intraday bias remains neutral. Near term outlook remains bullish as long as 1.3160 support holds, and further rally is expected. On the upside, break of 1.3444 will extend the larger up trend from 1.2061 for 1.3685 fibonacci level next. However, break of 1.3160 will indicate near term reversal and bring deeper decline.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2969) holds.

Daily Pivots: (S1) 1.3355; (P) 1.3378; (R1) 1.3411; More…

Intraday bias in USD/CAD remains neutral as consolidation from 1.3444 is still in progress. Near term outlook remains bullish as long as 1.3160 support holds, and further rally is expected. On the upside, break of 1.3444 will extend the larger up trend from 1.2061 for 1.3685 fibonacci level next. However, break of 1.3160 will indicate near term reversal and bring deeper decline.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2969) holds.

USD/CAD stayed in consolidation below 1.3444 last week and outlook is unchanged. Initial bias stays neutral this week first. As along as 1.3160 support holds, outlook remains bullish for further rally. On the upside, break of 1.3444 will extend the larger up trend from 1.2061 for 1.3685 fibonacci level next. However, break of 1.3160 will indicate near term reversal and bring deeper decline.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, such rise is not clearly impulsive yet. And it could be the second leg of the long term corrective pattern that started at 1.4689. Hence, even in case of further rally, we’d be cautious on loss of momentum and topping above 1.3685. Nevertheless, in any case, outlook will stay bullish as long as channel support (now at 1.2969) holds.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. The development keeps long term up trend from 0.9406 and that from 0.9056 (2007 low) intact. For now, there is prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3335; (P) 1.3359; (R1) 1.3381; More…

USD/CAD is staying in consolidation below 1.3444 and intraday bias remains neutral first. Near term outlook remains bullish with 1.3160 support intact, and further rally is expected. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2949) holds.

Daily Pivots: (S1) 1.3316; (P) 1.3358; (R1) 1.3393; More…

Intraday bias in USD/CAD remains neutral at this point. Consolidation from 1.3444 is still in progress and could extend further. But after all, near term outlook remains bullish as long as 1.3160 support holds, and further rise is expected. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2949) holds.

Daily Pivots: (S1) 1.3371; (P) 1.3397; (R1) 1.3417; More…

Intraday bias in USD/CAD remains neutral as consolidation from 1.3444 might extends. As long as 1.3160 minor support holds, further rally is still expected. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2949) holds.

Daily Pivots: (S1) 1.3324; (P) 1.3370; (R1) 1.3448; More…

USD/CAD rebounds strongly after drawing support from 4 hour 55 EMA. But it’s staying below 1.3444 resistance. Intraday bias remains neutral first. As long as 1.3160 minor support holds, further rally is still expected. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2949) holds.

Daily Pivots: (S1) 1.3251; (P) 1.3325; (R1) 1.3398; More…

Intraday bias in USD/CAD remains neutral for consolidation below 1.3444 temporary top. As long as 1.3160 minor support holds, further rally is still expected. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2949) holds.

USD/CAD rose to 1.3444 last week but failed to sustain above 1.3385 resistance and retreated sharply. Initial bias is neutral this week first. Near term outlook will remain cautiously bullish as long as 1.3160 support holds. On the upside, break of 1.3444 will turn bias back to the upside. Larger rally from 1.2061 should target 1.3685 fibonacci level next.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and should target to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. This will remain the preferred case as long as channel support (now at 1.2937) holds.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. The development keeps long term up trend from 0.9406 and that from 0.9056 (2007 low) intact. For now, there is prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3343; (P) 1.3394; (R1) 1.3433; More…

USD/CAD drops sharply in early US session as the pull back from 1.3444 accelerates, after failing to sustained above 1.3385 key resistance. But at this point, USD/CAD is held well above 1.3160 support. Thus, there is no indication of near term bearish reversal yet. Intraday bias is turned neutral first. On the upside, break of 1.3444 and sustained trading above 1.3385 will extend medium term up trend to 1.3685 fibonacci level. On the downside, though, break of 1.3160 support will indicate rejection by 1.3385 resistance and turn near term outlook bearish.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and decisive break of 1.3385 will pave the way to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. In case correction from 1.3382 extend with another falling leg, downside should be contained by 50% retracement of 1.2061 to 1.3385 at 1.2723 to bring rebound.

Daily Pivots: (S1) 1.3343; (P) 1.3394; (R1) 1.3433; More…

Intraday bias in USD/CAD remains on the upside for further rally. Sustained trading above 1.3385 resistance will confirm resumption of medium term up trend. Further rise should then be seen to 1.3685 fibonacci level. On the downside, though, break of 1.3160 support will indicate rejection by 1.3385 resistance and turn near term outlook bearish.

In the bigger picture, up trend from 1.2061 (2017 low) is still in progress and decisive break of 1.3385 will pave the way to 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. In case correction from 1.3382 extend with another falling leg, downside should be contained by 50% retracement of 1.2061 to 1.3385 at 1.2723 to bring rebound.