USDCAD Price Analysis – September 15 USDCAD tends to pull back as the market continues to rally upward. It demonstrates that the bulls appear to be in charge despite the bears continuing to exert pressure on the market. The price appears to be responding to the trend line structure, with historic highs being broken. Therefore, […]
Key Support: 1.2630 Key Resistance: 1.2650 – 1.2750 The USDCAD bounced off the 1.25 level last week creating a nice 247 pip weekly range on a +1.97% bullish run (low to highs). We are looking at a possible USD bullish breakout today which could bring bullish momentum in this market. The 1.2690 to 1.27 level […]
USD/CAD has decreased a little today after reaching 1.2695 level. It has dropped as much as 1.2660 where it has found demand again. Technically, the price has escaped from a reversal pattern, so an upside movement is natural and expected. Also, the Dollar Index is still very strong. A valid breakout through 92.80 level could […]
USDCAD Price Prediction – September 8 USDCAD is on a bullish trend and we expect to see price retracement beyond the 1.26120 significant key level. The market will continue this way as the buyers continue to gain and lose momentum. The price is seen to be retesting the trend line before assuming a pullback. As […]
Key support: 1.25 Key Resistance: 1.27 – 1.28 The USDCAD has bee trading down for the past 2 weeks (-2.66%) but we are still looking for longs here. The reason is that the overall trend in this market is bullish (more so with crude recovering from its drop to 61). The immediate bearish structure was […]
Key Support: 1.2570 Key Resistance: 1.2780 The USDCAD has been in a very aggressive bullish move since it bottomed around 1.20 at the end of May. It moved almost +8% from low to high in just 80 days. After topping at the 1.2950 last month we saw a very parabolic move towards those highs just […]
USDCAD Price Analysis – September 1 USDCAD keeps accumulating price continuously at the 1.25790 key level. Following a reversal at the significant resistance level of 1.27420 in July, the price broke and accumulated around 1.25790 before moving on to the next significant zone. Following that, USDCAD reversed around 1.24340, starting an ascending trend pattern. Price, […]
USDCAD Price Analysis – August 25 USDCAD tends to rally following a rebound. Since early June, the market has been bullish, making higher highs and breaking significant zones. USDCAD set a new high at 1.29508 after breaking through an old higher high. Following that, the market reversed after a significant pullback to form a new […]
Today, the Canadian dollar is the worst-performing currency, and slightly weaker-than-expected retail sales numbers aren’t helping matters. The loonie is being dragged down by persistent oil price weakness, as well as the general negative sentiment. Retail sales in Canada rose 4.2% MoM to C$ 56.2 billion in June, below 5.0% MoM expectations. Sales increased in […]
