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USD/CAD Daily Outlook
Daily Pivots: (S1) 1.2435; (P) 1.2488; (R1) 1.2545
4H
USD/CAD is staying in sideway pattern from 1.2797 and intraday bias remains neutral. On the downside, break of 1.2351 will bring deeper pull back. But in that case, we'd expect strong support from 61.8% retracement of 1.1564 to 1.2797 at 1.2035 to contain downside and bring rebound. On the upside, sustained break of 1.2797 will confirm up trend resumption for 1.3063 key resistance next.
---------- Post added at 04:01 PM ---------- Previous post was at 03:32 PM ----------
D1
In the bigger picture, the long term rally from 0.9406 is still in progress. Such rise is seen as the third leg of the pattern from 0.9056 low and would possibly now target a test on 1.3063 resistance. Based on current momentum, the rise might extend through 61.8% retracement of 1.6196 (2002 high) to 0.9056 (2007 low) at 1.3469. On the downside, sustained trading below 55 days EMA (now at 1.2171) is needed to indicate medium term reversal. Otherwise, outlook will stay bullish.
---------- Post added 03-05-2015 at 10:32 AM ---------- Previous post was 03-04-2015 at 04:01 PM ----------
USD/CAD Daily Outlook
Daily Pivots: (S1) 1.2371; (P) 1.2456; (R1) 1.2506
USD/CAD is staying in sideway pattern from 1.2797 and intraday bias remains neutral. On the downside, break of 1.2351 will bring deeper pull back. But in that case, we'd expect strong support from 61.8% retracement of 1.1564 to 1.2797 at 1.2035 to contain downside and bring rebound. On the upside, sustained break of 1.2797 will confirm up trend resumption for 1.3063 key resistance next.
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pair- usd/cad
time frame to analysis- m30
http://i58.tinypic.com/2vbx5p1.jpg
the price is making double bottom chart pattern with having the support at 1.2405 level with nick line of resistance at 1.2445 level. the price is break moving average but the stoch is showing overbought so correction can expected. long with stop loss at 1.2400
good luck
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The price of the pair moves starting from the wave (1.2565) It is noted that the limits of the main trend line drawn for this wave along the between-level (1.2542) and (1.2532 It is worth mentioning that the current wave goal access to the area (1.2388)
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pair- usd/cad
time frame to analysis- m15
http://i60.tinypic.com/9k5unr.jpg
the up movement of the price is making correction from the resistance at 1.2520 level and falling down side. this may hold at price 1.2465 and the fibo support 50. long with stop loss at 1.2450 and profit target at 1.2510
good luck
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USD/CAD Daily Outlook
Daily Pivots: (S1) 1.2422; (P) 1.2470; (R1) 1.2533
USD/CAD's consolidation from 1.2797 is still in progress and intraday bias stays neutral. On the downside, break of 1.2351 will bring deeper pull back. But in that case, we'd expect strong support from 61.8% retracement of 1.1564 to 1.2797 at 1.2035 to contain downside and bring rebound. On the upside, sustained break of 1.2797 will confirm up trend resumption for 1.3063 key resistance next.
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The price of the pair moves starting from the wave (1.2565) It is noted that the limits of the main trend line drawn for this wave along the between-level (1.2495) and (1.2519 It is worth mentioning that the current wave goal access to the area (1.2456)
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USD CAD still stuck – Analysis - 06/03/2015
The USDCAD pair continues to fluctuate between the trend confirmation keys represented by 1.2360 support and 1.2505 resistance, which makes us continue with our neutrality until now, and the priced needs to breach one of the mentioned levels to detect the next trend clearly.
Stochastic shows negative signal now and it might push on the price to test the above mentioned support, and to know more about the expected targets after breaching these levels, please review our previous report.
Expected trading range for today is between: 1.2300 support and 1.2600 resistance.
Expected trend for today: Depends on the above mentioned levels
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USD/CAD Weekly Outlook
USD/CAD continued the sideway trading from 1.2797 last week and outlook is unchanged. Such sideway pattern is viewed as a consolidation only. Deeper pull back cannot be ruled out yet and below 1.2406 will bring deeper fall. But in that case, we'd expect strong support from 61.8% retracement of 1.1564 to 1.2797 at 1.2035 to contain downside and bring rebound. On the upside, break of 1.2662 will be the first sign of up trend resumption and should target a test on 1.2797. Break will confirm and target 1.3063 key resistance next.
In the bigger picture, the long term rally from 0.9406 is still in progress. Such rise is seen as the third leg of the pattern from 0.9056 low and would possibly now target a test on 1.3063 resistance. Based on current momentum, the rise might extend through 61.8% retracement of 1.6196 (2002 high) to 0.9056 (2007 low) at 1.3469. On the downside, sustained trading below 55 days EMA (now at 1.2213) is needed to indicate medium term reversal. Otherwise, outlook will stay bullish.
In the longer term picture, we're still viewing that price actions from 0.9056 (2007 low) are developing into a long term consolidation pattern. Thus, we'd be cautious on strong resistance around 61.8% retracement of 1.6196 (2002 high) to 0.9056 (2007 low) at 1.3469 to limit upside and bring reversal. Nonetheless, sustained break there would now pave the way back to 1.6196 high in medium to long term.
---------- Post added at 05:10 PM ---------- Previous post was at 04:55 PM ----------
USDCAD
The upper end of the near-term trading range for the pair seems to dropped from 1.2700 to 1.2600 level. The pair currently is hovering around the lower end of the trading range near at 1.2400 mark. A decisive drop below 1.2400 mark is more likely to trigger extension of the pull-back from multi-year highs, immediately towards 1.2280 support zone marked by 23.6% Fib. retracement level of July 2014 to Jan. 2015 up-swing. Below 23.6% Fib. retracement level, the corrective move might get extended towards testing sub-1.2000 mark support, representing 38.2% Fib. retracement level. However, should the pair manage to hold 1.2400 mark support and move back above 1.2550-70 immediate resistance, it could possibly be headed back towards testing 1.2700 resistance area, the upper end of the trading range. Further, a decisive strength above 1.2700 level now seems to provide the required momentum to lift the pair towards testing the very important 1.3000 mark resistance, earlier tested in March 2009.
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USD/CAD Daily Outlook
Daily Pivots: (S1) 1.2506; (P) 1.2566; (R1) 1.2679
Intraday bias in USD/CAD stays neutral for the moment. Sideway pattern from 1.2797 could still extend. Below 1.2406 will bring deeper fall. But in that case, we'd expect strong support from 61.8% retracement of 1.1564 to 1.2797 at 1.2035 to contain downside and bring rebound. On the upside, break of 1.2662 will be the first sign of up trend resumption and should target a test on 1.2797. Break will confirm and target 1.3063 key resistance next.
In the bigger picture, the long term rally from 0.9406 is still in progress. Such rise is seen as the third leg of the pattern from 0.9056 low and would possibly now target a test on 1.3063 resistance. Based on current momentum, the rise might extend through 61.8% retracement of 1.6196 (2002 high) to 0.9056 (2007 low) at 1.3469. On the downside, sustained trading below 55 days EMA (now at 1.2213) is needed to indicate medium term reversal. Otherwise, outlook will stay bullish.
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pair- usd/cad
time frame to analysis- m15
http://i60.tinypic.com/33ww32s.jpg
the stoch indicator is moving up side and in the price chart price is up side from the support at 1.2580 level. this is break the resistance of moving average 14. long with profit target at 1.2630 and stop loss at the 1.2550
good luck
