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USDCAD
Member Since Mar 28, 2016
94 posts
May 20, 2016 at 16:48
May see the long-term bull trend in USD/CAD reassert itself as the pair breaks out of the bearish formation from earlier this year, with the Relative Strength Index (RSI) following suit.
Key Resistance: 1.3560 (100% expansion) to 1.3630 (38.2% retracement)
Key Support: 1.2510 (78.6% retracement) to 1.2520 (38.2% expansion)
Member Since Oct 11, 2013
769 posts
May 23, 2016 at 05:21
The USDCAD is undecided at the moment, probably waiting for oil to give it a push to the downside, but if the US Dollar keeps rallying, the pair will have difficulties in going back down.
Member Since Oct 02, 2014
905 posts
May 23, 2016 at 13:43
Good breakout above 1.3150.
Positivity
Member Since Oct 11, 2013
769 posts
May 25, 2016 at 01:10
The USDCAD has not been able to break above the 200 day EMA, which is at the 1.3200 level. Right now the pair is consolidating between the 1.3100 and the 1.3200 level, from here it may go in any direction, but the bullish trend is still in place.
Member Since Mar 28, 2016
94 posts
May 27, 2016 at 20:24
pair initially fell during the day on Thursday, breaking down below the 1.30 level given enough time. We ended up turning right back around to form a hammer during the session on Thursday and that of course is a very bullish sign. At this point in time, if we can break above the top of the hammer, it could very well be a signal to start buying. However, there is the 200 day exponential moving average above as pictured on the chart, so that could be a bit of a stumbling block. With that being the case, expect quite a bit of volatility, but it is very possible that we could send this market higher and with that being the case it is a very interesting pair for us at the moment.
Member Since Mar 28, 2016
94 posts
May 30, 2016 at 07:02
Buy USDCAD at 1.3050 TP 1.3080-1.3100 SL 1.3020
May 30, 2016 at 12:46
I don't think the move to the downside is over yet. The pair is retracing after it formed an inverted hammer candlestick on the 30-min chart above the support at 1.3030, but I think that after it reaches the resistance at 1.3060 it will continue falling.
Member Since Oct 02, 2014
905 posts
May 30, 2016 at 14:03
It might be consolidating.
Positivity
Member Since Oct 11, 2013
769 posts
May 31, 2016 at 07:19
Just as oil consolidates, the USDCAD is also consolidating around the 1.3000 level and the 1.3100.
Member Since Oct 02, 2014
905 posts
Jun 05, 2016 at 15:49
Buy the dips id say.
Positivity
Member Since Oct 11, 2013
769 posts
Jun 06, 2016 at 06:05
Well-defined range on the USDCAD without a clear direction, only a breakdown of the 1.2900 or a breakout of the 1.3200 levels may decide the direction.
Member Since Oct 02, 2014
905 posts
Jun 12, 2016 at 12:45
Bullish on this pair.
Positivity
