Daily Pivots: (S1) 1.2353; (P) 1.2422; (R1) 1.2460; More…

Intraday bias in USD/CAD remains on the downside for retesting 1.2363 low. Decisive break there will resume larger down trend from 1.4667. Next target will be 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136. On the upside, though, break of 1.2470 minor resistance will delay the bearish case and extend the consolidation from 1.2363 with another rising leg.

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.

Daily Pivots: (S1) 1.2456; (P) 1.2482; (R1) 1.2504; More…

Intraday bias in USD/CAD remains mildly on the downside at this point. Deeper fall would be seen back to retest 1.2363 low. Break there will resume larger down trend from 1.4667. On the upside, above 1.2533 minor resistance will turn bias neutral again. But outlook will stay cautiously bearish as long as 1.2653 resistance holds.

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 edged higher to 1.2653 last week but failed to sustain above 55 day EMA (now at 1.2596) again. Initial bias is mildly on the downside this week for retesting 1.2363 low. Break there will resume larger down trend from 1.4667. On the upside, above 1.2533 minor resistance will turn bias neutral again. But outlook will stay cautiously bearish as long as 1.2653 resistance holds.

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.

Daily Pivots: (S1) 1.2472; (P) 1.2503; (R1) 1.2534; More…

Intraday bias in USD/CAD stays mildly on the downside for retesting 1.2363 low. Break there will resume the down trend from 1.4667. Nevertheless, firm break of 1.2653, with sustained trading above 55 day EMA, will indicate that it’s now in a larger scale rebound, towards 1.2742 resistance first.

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.

Daily Pivots: (S1) 1.2420; (P) 1.2536; (R1) 1.2613; More…

USD/CAD reversed sharply after edging higher to 1.2653 yesterday. Strong resistance was seen again from 55 day EMA, keeping near term outlook bearish. With break of 1.2470 minor support, intraday bias is now back on the downside for retesting 1.2363 low. Break there will resume the down trend from 1.4667. Nevertheless, firm break of 1.2653, with sustained trading above 55 day EMA, will indicate that it’s now in a larger scale rebound, towards 1.2742 resistance first.

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.

Daily Pivots: (S1) 1.2522; (P) 1.2572; (R1) 1.2666; More…

Intraday bias in USD/CAD is turned neutral with the current rebound, and focus is back on 1.2646 resistance. Sustained break there would also have 55 day EMA firmly taken out. That would indicate that USD/CAD is in a larger scale rebound. Intraday bias will be back on the upside for 100% projection of 1.2363 to 1.2646 from 1.2470 at 1.2753, and then 161.8% projection at 1.2928. Meanwhile, break of 1.2470 support will bring retest of 1.2363 low 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 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2487; (P) 1.2515; (R1) 1.2560; More…

Intraday bias in USD/CAD is mildly on the downside, as fall from 1.2646 is gyrating down towards 1.2363 low. Break will resume larger down trend from 1.4667. Overall, outlook will stay bearish as long as 1.2742 resistance holds, even in case of another rebound.

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.

Daily Pivots: (S1) 1.2481; (P) 1.2520; (R1) 1.2547; More…

Intraday in USD/CAD remains neutral at this point. Corrective rise from 1.2363 might have completed at 1.2646 already, after hitting 55 day EMA. Below 1.2475 will bring retest of 1.2363 low first. Break will resume larger down trend from 1.4667. Overall, outlook will stay bearish as long as 1.2742 resistance holds, even in case of another rebound.

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 dipped to 1.2475 last week but recovered. Initial bias remains neutral this week first. Corrective rise from 1.2363 might have completed at 1.2646 already, after hitting 55 day EMA. Below 1.2475 will bring retest of 1.2363 low first. Break will resume larger down trend from 1.4667. Overall, outlook will stay bearish as long as 1.2742 resistance holds, even in case of another rebound.

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.

Daily Pivots: (S1) 1.2496; (P) 1.2528; (R1) 1.2578; More…

USD/CAD recovered after hitting 1.2475 and intraday bias is turned neutral first. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2475 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2489; (P) 1.2532; (R1) 1.2565; More…

Intraday bias in USD/CAD remains neutral for the moment. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2498; (P) 1.2564; (R1) 1.2600; More…

Intraday bias in USD/CAD remains neutral and outlook is unchanged. On the upside, break of 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2539; (P) 1.2556; (R1) 1.2584; More…

USD/CAD is still bounded in range of 1.2501/2646 and intraday bias remains neutral at this point. On the upside, break of 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2502; (P) 1.2556; (R1) 1.2587; More…

Intraday bias in USD/CAD remains neutral first. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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 failed to break through 55 day EMA (now at 1.2630) again last week and extended range trading. Initial bias remains neutral this week first. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside breakout is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2537; (P) 1.2582; (R1) 1.2606; More…

Intraday bias in USD/CAD remains neutral for the moment. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside break out is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2569; (P) 1.2602; (R1) 1.2641; More…

Intraday bias in USD/CAD stays neutral at this point. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds, and eventual downside break out is expected. On the downside, break of 1.2501 minor support will bring retest of 1.2363 low first.

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.

Daily Pivots: (S1) 1.2529; (P) 1.2556; (R1) 1.2595; More….

USD/CAD recovered after dipping to 1.2501 and intraday bias is turned neutral first. On the downside, below 1.2501 will bring retest of 1.2363 low. Firm break there will resume larger down trend from 1.4667. Next target is 100% projection of 1.3389 to 1.2588 from 1.2880 at 1.2079. On the upside, break of 1.2646 will resume the rebound from 1.2363. But overall outlook will stay bearish as long as 1.2742 resistance holds.

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.

Daily Pivots: (S1) 1.2485; (P) 1.2540; (R1) 1.2578; More….

Breach of 1.2519 minor support suggests that corrective rebound from 1.2363 has completed at 1.2646. Intraday bias is back on the downside for retesting 1.2363 low. Firm break there will resume larger down trend from 1.4667. Next target is 100% projection of 1.3389 to 1.2588 from 1.2880 at 1.2079. On the upside, break of 1.2646 will resume the rebound. But overall outlook will stay bearish as long as 1.2742 resistance holds.

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.

Daily Pivots: (S1) 1.2543; (P) 1.2562; (R1) 1.2595; More….

Intraday bias in USD/CAD stays neutral at this point. Rebound from 1.2363 could still extend higher. But outlook will remain bearish as long as 1.2742 resistance holds. On the downside, below 1.2519 minor support will bring retest of 1.2363 low. Firm break there will resume larger down trend from 1.4667. Next target is 100% projection of 1.3389 to 1.2588 from 1.2880 at 1.2079.

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.