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USDCAD
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dianajs

Member Since Dec 09, 2015  599 posts dianajs May 19 2016 at 08:49
I agree, next target is likely 1.3100, and I think that if it breaks above that level it will reach 1.3300.

paidsignals

Member Since Mar 28, 2016  71 posts paidsignals 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)

alexforex007

Member Since Oct 11, 2013  637 posts alexforex007 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.

arigoldman

Member Since Oct 02, 2014  678 posts Ari Goldman (arigoldman) May 23 2016 at 13:43
Good breakout above 1.3150.

Positivity
dianajs

Member Since Dec 09, 2015  599 posts dianajs May 24 2016 at 13:01
It was a false breakout, the pair is back to testing the support at 1.3120. If it breaks below that level I think it will reach 1.3070.

alexforex007

Member Since Oct 11, 2013  637 posts alexforex007 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.

dianajs

Member Since Dec 09, 2015  599 posts dianajs May 27 2016 at 09:11

USD/CAD formed a hammer candlestick on the daily time frame above the support at 1.2970, which is the middle line of the Bollinger bands indicator on the same time frame and started climbing. I think its next target is 1.3100.

paidsignals

Member Since Mar 28, 2016  71 posts paidsignals 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.

paidsignals

Member Since Mar 28, 2016  71 posts paidsignals May 30 2016 at 07:02
Buy USDCAD at 1.3050 TP 1.3080-1.3100 SL 1.3020

dianajs

Member Since Dec 09, 2015  599 posts dianajs 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.

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NBS Press Conference (47 min)
China Q4 GDP seen lower at 6.7% - TDS(1 min ago)
EURUSD 1.22048 GBPUSD 1.38309
USDJPY 111.145 USDCAD 1.24448
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