Daily Pivots: (S1) 1.3463; (P) 1.3502; (R1) 1.3536; More….

USD/CAD’s fall continues today and hits as low as 1.3393 so far. Intraday bias remains on the downside for 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. On the upside, break of 1.3572 minor resistance will turn intraday bias neutral and bring recovery first.

In the bigger picture, current development suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667, after failing (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3463; (P) 1.3502; (R1) 1.3536; More….

USD/CAD is losing some downside momentum as seen in 4 hour MACD. But there is no sign of recovery yet. Intraday bias stays on the downside. Fall from 1.4667 should extend to 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. Though, break of 1.3572 minor resistance will turn intraday bias neutral and bring recovery first.

In the bigger picture, current development suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667, after failing (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3460; (P) 1.3516; (R1) 1.3553; More….

Further decline is expected in USD/CAD as long as 1.3832 resistance holds. Fall from 1.4667 should extend to projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. Nevertheless, break of 1.3823 should indicate complete of the decline and turn outlook bullish. for 1.4265 resistance.

In the bigger picture, current development suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667, after failing (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3474; (P) 1.3530; (R1) 1.3575; More….

Intraday bias in USD/CAD remains on the downside at this point. Decline from 1.4667 is in progress and should target 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. On the upside, break of 1.3832 resistance is needed to indicate short term topping. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, current development suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667, after failing (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3489; (P) 1.3645; (R1) 1.3731; More….

USD/CAD’s decline from 1.4667 accelerated to as low as 1.3545 so far today. Intraday bias remains on the downside at this point. Next near term target is 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236. On the upside, break of 1.3832 resistance is needed to indicate short term topping. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, 1.3664 cluster support (38.2% retracement of 1.2061 (2017 low) to 1.4667 at 1.3672) is taken out firmly. The development suggests that whole rise form 1.2061 has completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below.

Daily Pivots: (S1) 1.3708; (P) 1.3771; (R1) 1.3826; More….

USD/CAD fall resumes after brief consolidation and intraday bias is back on the downside. Focus remains on whether the pair decisive break 1.3664 key cluster support on next fall. On the upside, above 1.3832 minor resistance will turn intraday bias neutral first. Further break of 1.4048 resistance will indicate near term bottoming and turn outlook bullish for stronger rise.

In the bigger picture, focus is now on 1.3664 cluster support (38.2% retracement of 1.2061 (2017 low) to 1.4667 at 1.3672. As long as this support holds, rise for 1.2061 is seen as in progress and should resume through 1.4667/4689 resistance zone at a later stage. However, sustained break of 1.3664 will argue that consolidation from 1.4689 (2016 high) is extending with another fall leg. Deeper decline would be seen to 61.8% retracement at 1.3056 and possibly below.

USD/CAD’s decline from 1.4667 resumed last week and hit as low as 1.3714. But as a temporary low was formed there, initial bias is turned neutral this week first. On the downside, focus will be on whether USD/CAD could decisive break 1.3664 key cluster support on next fall. On the upside, break of 1.4048 resistance will indicate near term bottoming and turn outlook bullish for stronger rise.

In the bigger picture, focus is now on 1.3664 cluster support (38.2% retracement of 1.2061 (2017 low) to 1.4667 at 1.3672. As long as this support holds, rise for 1.2061 is seen as in progress and should resume through 1.4667/4689 resistance zone at a later stage. However, sustained break of 1.3664 will argue that consolidation from 1.4689 (2016 high) is extending with another fall leg. Deeper decline would be seen to 61.8% retracement at 1.3056 and possibly below.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will 1.6196 (2002 high). This will remain the favored case as long as 55 month EMA (now at 1.2944) holds.

Daily Pivots: (S1) 1.3736; (P) 1.3763; (R1) 1.3792; More….

Intraday bias in USD/CAD is turned neutral with 4 hour MACD crossed above signal line. At this point, we’d continue to expect strong support around 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.3866 minor resistance will turn bias back to the upside for 1.4048 resistance. However, sustained break of 1.3762 will suggest deeper decline is underway for 61.8% projection of 1.4667 to 1.3855 from 1.4048 at 1.3546 next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. However, rejection by 1.4689, followed by 1.3664 support will suggest that rise from 1.2061 is merely part of the corrective pattern from 1.4689 and has completed. The pattern would have started another falling leg to 1.2951 support and possibly further to 1.2061.

Daily Pivots: (S1) 1.3711; (P) 1.3767; (R1) 1.3806; More….

No change in USD/CAD’s outlook as correction from 1.4667 is still in progress. We’d continue to expect strong support around 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.3866 minor resistance will turn bias back to the upside for 1.4048 resistance. However, sustained break of 1.3762 will suggest deeper decline is underway for 61.8% projection of 1.4667 to 1.3855 from 1.4048 at 1.3546 next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. However, rejection by 1.4689, followed by 1.3664 support will suggest that rise from 1.2061 is merely part of the corrective pattern from 1.4689 and has completed. The pattern would have started another falling leg to 1.2951 support and possibly further to 1.2061.

Daily Pivots: (S1) 1.3695; (P) 1.3841; (R1) 1.3923; More….

At this point, we’d still expect strong support from 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound in USD/CAD. On the upside, break of 1.3866 minor resistance will turn bias back to the upside for 1.4048 resistance. However, sustained break of 1.3762 will suggest deeper decline is underway fro 61.8% projection of 1.4667 to 1.3855 from 1.4048 at 1.3546 next).

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. However, rejection by 1.4689, followed by 1.3664 support will suggest that rise from 1.2061 is merely part of the corrective pattern from 1.4689 and has completed. The pattern would have started another falling leg to 1.2951 support and possibly further to 1.2061.

Daily Pivots: (S1) 1.3965; (P) 1.3987; (R1) 1.4004; More….

Intraday bias in USD/CAD is turned to the downside as corrective pattern from 1.4667 extends. At this point, we’d still expect strong support from 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4048 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3965; (P) 1.3987; (R1) 1.4004; More….

Intraday bias in USD/CAD remains neutral first. Corrective pattern from 1.4667 might extend but downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3948; (P) 1.3998; (R1) 1.4054; More….

Intraday bias in USD/CAD remains neutral for the moment and outlook is unchanged. Corrective pattern from 1.4667 might extend but downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

USD/CAD stayed in established range last week and outlook is unchanged. Corrective pattern from 1.4667 might still extend with another decline. But downside should be contained 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will target 61.8% projection of 0.9406 to 1.4689 from 1.2951 at 1.6216. That is close to 1.6196 (2002 high).

Daily Pivots: (S1) 1.3908; (P) 1.3939; (R1) 1.3986; More….

USD/CAD recovered after dipping to 1.3866 but stays below 1.4140 resistance. Intraday bias is neutral first and outlook is unchanged. Corrective pattern from 1.4667 might extend but downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3859; (P) 1.3910; (R1) 1.3952; More….

Outlook in USD/CAD remains unchanged as corrective pattern from 1.4667 is extending with another falling leg. Deeper decline could be seen but downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3881; (P) 1.3925; (R1) 1.3984; More….

Intraday bias in USD/CAD is mildly on the downside after break of 1.3900 minor support. Corrective pattern from 1.4667 is extending and deeper fall could be seen to 1.3850 and below. But still, downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3885; (P) 1.4000; (R1) 1.4059; More….

Outlook in USD/CAD remains unchanged. Corrective pattern from 1.4667 could still extend with another decline through 1.3850 support. But downside should be contained by 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4140 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.4048; (P) 1.4083; (R1) 1.4146; More….

Intraday bias in in USD/CAD remains neutral as range trading continues. Corrective pattern from 1.4667 could still extend with another decline. But downside should be contained 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4173 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

USD/CAD stayed in established range of 1.3850/4173 last week and outlook is unchanged. Initial bias remains neutral this week first. Corrective pattern from 1.4667 could still extend with another decline. But downside should be contained 61.8% retracement of 1.3202 to 1.4667 at 1.3762 to bring rebound. On the upside, break of 1.4173 resistance will indicate completion of the correction. Intraday bias will be turned back to the upside for retesting 1.4667. However, sustained break of 1.3762 will bring deeper fall to 1.3664 key support next.

In the bigger picture, at this point, we’re still seeing rise from 1.2061 (2017 low) as resuming up trend from 0.9056 (2007 low). Decisive break of 1.4689 (2016 high) will confirm this bullish case. Next medium term target is 161.8% projection of 1.2061 to 1.3664 from 1.2951 at 1.5545. Rejection by 1.4689 will bring some consolidations first. But outlook will remain bullish as long as 1.3664 resistance turned support holds, even in case of deep pull back.

In the longer term picture, up trend from 0.9506 is (2007 low) is in progress. Decisive break of 1.4689 will target 61.8% projection of 0.9406 to 1.4689 from 1.2951 at 1.6216. That is close to 1.6196 (2002 high).