we can see that the pair has failed in breaking 0.9900 and bounced from it , so that's mean the down trend is expected and the pair might head to 0.9830 and then 0.9800
Printable View
we can see that the pair has failed in breaking 0.9900 and bounced from it , so that's mean the down trend is expected and the pair might head to 0.9830 and then 0.9800
Prices put in a Bearish Engulfing candlestick pattern below resistance at the psychologically critical parity level and corrected lower, with subsequent price action taking the shape of a triangle chart pattern. The setup is indicative of bullish continuation and I will look for a break above resistance at 0.9910 – the 23.6% Fibonacci extension level – to enter long.
Above 1.0009 and sustained trading above 0.9912 will confirm this case and target 61.8% retracement of 1.0851 to 0.9406 at 1.0299. Nevertheless, below 0.9741 will dampen this bullish view and turn focus back to 0.9406 instead.
we are net sellers still, at least until that mark gets closed above on a daily candle. We are looking for weakness about 100 pips above current levels, and then are looking to sell.
The setup is indicative of bullish continuation and I will look for a break above resistance at 0.9910 – the 23.6% Fibonacci extension level – to enter long.
the chart is showing that the pair has succeeded in closing it's daily candle above level 0.9800 , and that's mean the up trend is still standing and the pair might head to 0.9840 and then 0.9870
we’ve seen tremendous intraday activity, we’re not that far from where we started five days ago.” The Canadian currency depreciated 0.5 percent to 98.73 cents versus the U.S. dollar from 98.20 on Aug. 5. One Canadian dollar buys $1.01290.
The USD/CAD pair fell fairly hard as oil markets rallied on Monday, pushing demand for the Loonie higher. If should be noted that this is with the trend, and as such we expected this move.
USD/CAD rally from late July lows at 0.9040 has stalled below 1.0000, to consolidate roughly between 0.9800 and 0.9900 over the last three days, although, according to Mohammed Isah, the overall corrective recovery remains intact.
the pair and as we can see from the chart is trading now above the level of 0.9800 , so when ever the pair success in breaking 0.9800 , that's mean the down trend will be assured and the pair might head to 0.9770 and then 0.9740