Daily Pivots: (S1) 1.2841; (P) 1.2878; (R1) 1.2915; More…

Intraday bias in USD/CAD is turned neutral as it retreat after hitting 1.2913. Some consolidations could be seen but further rally is expected as long as 1.2717 support holds. Above 1.2913 will resume recent rally to 1.3022 fibonacci level next. Decisive break there will carry larger bullish implications.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2841; (P) 1.2878; (R1) 1.2915; More…

Intraday bias in USD/CAD stays on the upside for the moment. Current rise from 1.2401 should target 1.3022 fibonacci level next. Decisive break there will carry larger bullish implications. In any case, outlook will stay cautiously bullish as long as 1.2717 support intact, in case of another retreat.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2765; (P) 1.2813; (R1) 1.2907; More…

USD/CAD’s rally from 1.2401 resumes by breaking through 1.2879 temporary top. Intraday bias is back on the upside for 1.3022 fibonacci level next. Decisive break there will carry larger bullish implications. In any case, outlook will stay cautiously bullish as long as 1.2717 support intact, in case of another retreat.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2765; (P) 1.2813; (R1) 1.2907; More…

Intraday bias in USD/CAD remains neutral, with focus on 1.2879 resistance. Break there will resume the rally from 1.2401 towards 1.3022 fibonacci level. Decisive break there will carry larger bullish implications. In any case, outlook will stay cautiously bullish as long as 1.2675 support intact, in case of another retreat.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

USD/CAD surged to as high as 1.2879 last week, but retreated ahead of 1.2899 resistance. Initial bias remains neutral this week first and further rise is in favor. On the upside, above 1.2879 should resume rise from 1.2401 towards 1.3022 fibonacci level. Decisive break there will carry larger bullish implications. However, break of 1.2675 will dampen this bullish view and bring deeper fall back to 1.2401 support instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

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 stage. 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. However, firm break of 1.2061 support will argue that USD/CAD has already started a long term down trend. Next target is 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2773; (P) 1.2826; (R1) 1.2862; More…

A temporary top is formed at 1.2879, ahead of 1.2899 resistance, with current retreat. Intraday bias in USD/CAD is turned neutral first. Further rise will remain mildly in favor as long as 1.2675 resistance turned support holds. Above 1.2879 should resume rise from 1.2401 towards 1.3022 fibonacci level. Decisive break there will carry larger bullish implications. However, break of 1.2675 will dampen this bullish view and bring deeper fall back to 1.2401 support instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2779; (P) 1.2816; (R1) 1.2855; More…

USD/CAD’s rally continues today and intraday bias remains on the upside for 1.2899 resistance. Break there should resume the larger rise from 1.2005 to 1.3022 fibonacci level. Decisive break there will carry larger bullish implications. On the downside, below 1.2776 minor support will turn intraday bias neutral and bring consolidations. But further rally will remain in favor as long as 1.2675 resistance turned support holds.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2779; (P) 1.2816; (R1) 1.2855; More…

Intraday bias in USD/CAD remains on the upside for the moment. Current rise from 1.2401 should target 1.2899 resistance. Break there will target 1.3022 fibonacci level next. On the downside, however, break of 1.2683 minor support will mix up the near term outlook and turn intraday bias neutral again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2731; (P) 1.2780; (R1) 1.2874; More…

USD/CAD’s rally from 1.2401 is still in progress and intraday bias stay s on the upside for 1.2899 resistance. Break there will target 1.3022 fibonacci level next. On the downside, however, break of 1.2683 minor support will mix up the near term outlook and turn intraday bias neutral again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2702; (P) 1.2740; (R1) 1.2773; More…

Intraday bias in USD/CAD remains on the upside with 1.2652 minor support intact. Rebound from 1.2401 should target 1.2899 resistance next. On the downside, however, break of 1.2652 minor support will mix up the near term outlook and turn intraday bias neutral again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2610; (P) 1.2668; (R1) 1.2768; More…

Intraday bias in USD/CAD remains on the upside for the moment. Rebound from 1.2401 is still in progress and should target 1.2899 resistance next. On the downside, however, break of 1.2652 minor support will mix up the near term outlook and turn intraday bias neutral again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

After dipping to 1.2457 initially, USD/CAD staged a strong rally last week and broke through 1.2675 resistance. The development confirms resumption of whole rise from 1.2401. Initial bias is now on the upside this week for 1.2899 resistance next. On the downside, below 1.2606 minor support will mix up the outlook and turn intraday bias neutral again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

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 stage. 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. However, firm break of 1.2061 support will argue that USD/CAD has already started a long term down trend. Next target is 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2498; (P) 1.2544; (R1) 1.2630; More…

USD/CAD rebounded strongly after dipping to 1.2457 and intraday bias is turned neutral. On the upside, break of 1.2675 will resume the rebound from 1.2401 towards 1.2899 resistance. On the downside, below 1.2457 will bring retest of 1.2401 support.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2436; (P) 1.2531; (R1) 1.2589; More…

The strong break of 1.2519 support suggests completion of rebound from 1.2401. Intraday bias in USD/CAD is back on the downside for 1.2401 support first. Firm break there will resume larger decline from 1.2899 to retest 1.2005 low. On the upside, though, break of 1.2675 will flip bias back to the upside for 1.2899 resistance instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2578; (P) 1.2612; (R1) 1.2656; More…

Immediate focus is on 1.2519 minor support in USD/CAD. Break there will target 1.2401 support first. Firm break there will resume larger decline from 1.2899 to retest 1.2005 low. On the upside, though, break of 1.2675 will flip bias back to the upside for 1.2899 resistance instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2578; (P) 1.2612; (R1) 1.2656; More…

Range trading continues in USD/CAD and intraday bias remains neutral for the moment. On the upside, break of 1.2675 will flip bias back to the upside for 1.2899 resistance instead. On the downside, below 1.2519 will bring retest of 1.2401 support.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2594; (P) 1.2619; (R1) 1.2636; More…

USD/CAD recovered quickly after dipping to 1.2519 and intraday bias is turned neutral again. On the upside, break of 1.2675 will flip bias back to the upside for 1.2899 resistance instead. On the downside, below 1.2519 will bring retest of 1.2401 support.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2520; (P) 1.2598; (R1) 1.2641; More…

Break of 1.2561 minor support argues that rebound from 1.2401 has completed at 1.2675. Intraday bias is back on the downside for 1.2401 support again. ON the upside, break of 1.2675 will flip bias back to the upside for 1.2899 resistance instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2596; (P) 1.2629; (R1) 1.2676; More…

Intraday bias in USD/CAD remains mildly on the upside as rebound from 1.2401 is in progress. Sustained trading above 55 day EMA (now at 1.2629) will bring further rally to upper side of recent range at 1.2963. On the downside, though, below below 1.2561 minor support will turn bias back to the downside for 1.2401 support again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 1.2586; (P) 1.2614; (R1) 1.2661; More…

USD/CAD’s rebound from 1.2401 resumed by breaking through 1.2617 temporary top. Intraday bias is back on the upside. Sustained trading above 55 day EMA (now at 1.2629) will bring further rally to upper side of recent range at 1.2963. On the downside, though, below below 1.2561 minor support will turn bias back to the downside for 1.2401 support again.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.