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USDCAD
Membre depuis Mar 28, 2016
posts 94
May 20, 2016 at 16:48
Membre depuis Mar 28, 2016
posts 94
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)
Membre depuis Oct 11, 2013
posts 769
Membre depuis Oct 02, 2014
posts 905
Membre depuis Oct 11, 2013
posts 769
May 25, 2016 at 01:10
Membre depuis Oct 11, 2013
posts 769
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.
Membre depuis Mar 28, 2016
posts 94
May 27, 2016 at 20:24
Membre depuis Mar 28, 2016
posts 94
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.
Membre depuis Mar 28, 2016
posts 94
May 30, 2016 at 12:46
Membre depuis Dec 09, 2015
posts 823
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.
Membre depuis Oct 02, 2014
posts 905
Membre depuis Oct 11, 2013
posts 769
Membre depuis Oct 02, 2014
posts 905
Membre depuis Oct 11, 2013
posts 769
Membre depuis Oct 02, 2014
posts 905

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