Jun 13 2016 at 06:37
USDCAD will remain bullish
The flag continues forming today. GBP/USD formed an inverted hammer on the four-hour time frame above the support at 1.2760 and started rising again. I think next target is 1.2810 - 1.2815.
USD/CAD finally reached the resistance at 1.2870, which is (EMA)89 on the four hour time frame. The pair could bounce off of it, but if it breaks above it next target is at 1.2930, which is the middle line of the Bollinger Bands indicator on the daily time frame.
The pair did retreat from the 1.2870 resistance as oil recovered.
Yes, it a shooting star candlestick and a spinning top candlestick underneath the resistance at 1.2870 on the four-hour time frame and started falling. I think next target is 1.2800.
CAD weakened quite a bit on the EIA news and USDCAD is up 72 pip, if the oil goes up for the day CAD is likely to retreat some, but the eyes are on the Feds in 2.5 hour. Any surprise can give big movement in either direction.
Despite the short retracement USD/CAD is still very bullish. The pair broke above 1.2900 and I think next target is 1.3000.
USD/CAD almost reached 1.31 before it rebounded back to 1.2900 and today it broke below that level. On the daily time frame there's a great doji candlestick, so I expect a further move to the downside towards 1.2800.
Jun 19 2016 at 18:07
It seems its forming a triangle.
Positivity
The pair is very undecided at the moment, but I think we will see another drop to 1.2760 - 1.2750.
ı would sell action today on usd cad because seller and buyer rations are explain to us everthing .
There is not a casino , we should trust system and trends
USD/CAD reached 1.2677 and bounced off of the support there but I think that's just temporary. So far there's no signal that the move to the downside is over.
Although USD/CAD is not a EUR or GBP-related pair Brexit still had a big effect on it and caused a big move to the upside. We'll have to wait until next week to find out whether it's temporary or if it's the beginning of a reversal.
Jun 26 2016 at 15:40
Waiting to enter long soon.
Positivity
The pair is still quite bullish and it's currently testing the resistance at 1.3100. I think that if it breaks above it it will reach 1.3170 next.
Jun 28 2016 at 02:34
The USDCAD stays consolidated between the 1.300 level and the 1.3100, there is no direction until the price breaks any of those levels.
The pair is very bullish although it is still testing the resistance at 1.3100. I think today it it will likely break above that level.
I am starting to doubt that the pair will break above 1.3100 right away, it has been testing it for a while now and it still hasn't been able to break above that level. We might see a move to the downside first, before it makes another attempt to break above the resistance.
I am looking at the four-hour time frame and I am questioning whether that was the end of the move to the downside. The pair reached 1.2830, formed a doji and a hammer candlestick above the support there and is now moving up again. I expected a bigger drop.
That wasn't the end of the move the downside, thankfully, because the pair found resistance at 1.3015, which is the middle line of the Bollinger Bands indicator on the four-hour time frame and started falling again. For the moment it's testing the support at 1.2880 and I think that if it breaks below that level next target will be 1.2700.
