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USDCAD
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paidsignals

Member Since Mar 28, 2016  71 posts paidsignals Apr 09 2016 at 10:41
The USD/CAD pair is losing 1.04 % at 1.3013 and a breakdown of 1.2858 (2016 low Mar.31) would expose 1.2827 (monthly low Oct.15 2015) and finally 1.2124 (monthly low Jun.16). On the flip side, the initial up barrier lines up at 1.3290 (23.6% Fibo of 1.4692-1.2858) followed by 1.3390 (200-day SMA) and then 1.3500 (55-day SMA)

stian

Member Since Nov 14, 2015  308 posts stian Apr 10 2016 at 22:04
The pair will follow the direction of the oil.

dianajs

Member Since Dec 09, 2015  703 posts dianajs Apr 12 2016 at 06:36
USD/CAD is falling for now, but I am waiting to see whether it will break below the support at 1.2900. I don't intend to open more short positions before it does that.

Phaust

Member Since Apr 12, 2016  5 posts Phaust Apr 12 2016 at 06:54
I thought the correlation was negative to Oil because Canadian dollar follows Oil, as Oil increases, CAD will increase causing the USD/CAD ratio to drop, therefore short USD/CAD as Oil raises

alexforex007

Member Since Oct 11, 2013  659 posts alexforex007 Apr 12 2016 at 23:24
Oil has helped the Canadian Dollar and that is why the USDCAD is nearing the 1.2700 level. To the upside, the 1.2900 could act as resistance.

dianajs

Member Since Dec 09, 2015  703 posts dianajs Apr 13 2016 at 14:30
USD/CAD found some resistance at 1.2750 and it may retrace back to 1.2850, perhaps eveb higher, but I don't think this is the end of the bearish trend.

dianajs

Member Since Dec 09, 2015  703 posts dianajs Apr 19 2016 at 13:14
The pair has almost reached the support at 1.2660. Even if it breaks below that support first there will likely be a retracement first. I for one will be opening longs soon.

arigoldman

Member Since Oct 02, 2014  792 posts Ari Goldman (arigoldman) Apr 20 2016 at 13:53
Expecting a correction to 1.29.

Positivity
dianajs

Member Since Dec 09, 2015  703 posts dianajs Apr 21 2016 at 12:25
The pair broke below 1.2650, the next immediate target is at 1.2600, but I think we will see it fall much lower than that level in the coming weeks. I initially thought we would see some retracement once it reached 1.2660, but apparently the bearish trend is still too strong.

dianajs

Member Since Dec 09, 2015  703 posts dianajs Apr 27 2016 at 13:11 (edited Apr 27 2016 at 13:16 )
USD/CAD broke below 1.2600 and continues dropping, it didn't even retrace at the support at 1.2660 which is MA89 on the weekly time frame as I thought it would. The bearish trend clearly continues and next long-term target is around 1.2000, I think.

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