Usd/Cad

[Gold]

On the daily chart clearly shows that penetrated a very important support zone of 9879 (the zone of lower fractals), this sample revealed a great potential for further decline, below a void, also moving alligator changed its trend to the south, holding the sale.

[hamza661]

USD/CAD intraday: the downside prevails.
Our preference: Short positions below 0.991 with targets @ 0.9855 & 0.9835 in extension.

Alternative scenario: Above 0.991 look for further upside with 0.993 & 0.9955 as targets.
Key levels
0.9955
0.993
0.991
0.98692 last
0.9855
0.9835
0.9805

[Lily]

It seems the main purpose of the bears will be the lower boundary of the channel, the level of 9840, now is the southern continuation of the formation of the wave, while waiting for my entry point to sell, to the south as evidenced by the fact that today's market is the fall of the dollar index.

[fanikakkoo]

i think so the current trend down movements 0.9700 agar isne price break kiya 0.9770 toh definatly mere hisab se yeh upward movemnet mai jayega aroung 0.9820

[niknik]

The USDCAD rally from September is in 5 waves therefore the reversal should be respected. The most common retracement area following 5 wave movements is the former 4th wave, which comes in at 9874. The USDCAD reversed just under the 38.2% Fibonacci level at 9894 today. The drop may have completed the first wave of a 3 wave decline.

FOREXTrading Strategy: Currently at support, I’d look higher but with the expectation that strength proves corrective (there are far better opportunities right now in my opinion).

LEVELS: 9794 9835 9874 9960 9991 10009

[santiika]

The break of 0.9874 support indicates that fall from 1.0056 is going to go deeper. Intraday bias remains on the downside for 61.8% retracement of 0.9633 to 1.0056 at 0.9795. Also, current development raised the odds of a new low below 0.9633 and we'll see how USD/CAD reacts after hitting 0.9795 fibo level. On the upside, break of 0.9954 minor resistance will turn bias back to the upside for retesting 1.0056. But before that, we'll now stay cautiously bearish.

In the bigger picture, price action from 1.0656 are viewed as a correction pattern, no change in this view. We're still slightly favoring the case that such correction is completed with three waves down to 0.9633. But this is far from being certain and break of 1.0445 is needed to be the confirmation. Meanwhile, break of 0.9874 support will indicate that such correction is going to make another low below 0.9633 before completion. In any case, we'd still expect any downside attempt to be contained above 0.9406 low. Eventually, we'd expect another medium term rise to 38.2% retracement of 1.3063 to 0.9406 at 1.0803.

[Ar33797ic]

Well, the pair opened with gepom down under a very strong support level ... until some hours it is held and if all steam soon will not revert back then I think that could start a very serious movement in the south side of ...

[forexking2]

Strong bearish GAP was formed here. And we see now price can move on bellow that ex. Low Fib 0.9891. On my see search again for sell with Stoploss can be set on above that 0.9891 wise idea now (for this USDCAD pair).

[secret alibi]

USDCAD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0055. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.9800-0.9850 area.

[sheila]

Support: 0.9841
Pivot: 0.9898
Resistance: 0.9955

trendspotter sell
7 day average directional indicator sell
10-8 day MA hilo channel sell
20 day MA VS Price sell
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold

Technical Analysis for USDCAD 40% Sell