USDCAD

USD/CAD appears capped at current level. Above 1.2670 bulls will take over, right now pair is in bearish territory.

USD/CAD is stuck in a tight range above 1.2780. I think that once that ends it will keep moving north to 1.3000.

good morning to all (eastern time.. )

what a nice move yesterday, I hope you all profited from it. today, I have a question for you people who trade USDCAD.. do you take break-outs ? if so, do you adjust the size of your position when you do and what kind of risk (% wise ) are you willing to take ?

thank you for sharing !

as for today... I would not be surprised to see UCAD retrace to 1.2735-55 level.. and be ready for another move up tomorrow when news come out.

again, thank you for all your input, it is always appreciated !

Nico

I agree on a coming retracement. Based on the current price showing weakness, it appears overextended and will retrace to its current upward trend line.

Bullish trend remain intact, 1.30 act as very strong handle on the upside, break above the immediate resistance level 1.2920 would open the door to more gains.

The USDCAD is consolidating around the 200 day EMA on the 1.2819 level after the strong rally that it had last week. From the current level, the pair may go in any direction, but if it continues higher, it may reach the 1.3000 level. To the downside, the 1.2563 level is its most relevant support zone.

There is a double top at 1.2916, so I think we might see a move to the downside. However, we should also keep in mind that the NFP data will come out tomorrow and then there should be a lot of volatility.

The Canadian dollar lost a lot this week to the US dollar. I think that's a healthy depreciation.

USD/CAD is developing within a very tight sideways consolidation at 1.2740 but I think that eventually the depreciation will contunue to 1.2700.

The pair depreciated a bit, hopefully it will recover.

arigoldman posted:
The pair depreciated a bit, hopefully it will recover.

In my opinion it may even continue depreciating, especially if it breaks out below 1.2700. Next target could be around 1.2650 - 1.2630.

USD/CAD slipped below 1.2700 as I thought it would and I opened a short position when it did. In my opinion, 1.2650 - 1.2630 is the first target but it may drop lower.

Good to go long now i think.

The pair is trading in a tight range on the low, support can be seen around 1.2620/30 zone, on the upside 1.28 is psychological resistance level.

It rebounded from 1.2665 but I don't think this is the end of the drop. A breakout below 1.2650 and another drop to 1.2600 is still possible.

scenario in process !

The drop did end after all. USD/CAD is rallying and I think it will test the local high at 1.2772. Above it the target is 1.2900.

indeed it may test 1.2772... but news at 8:30 EST will determine direction...

USD/CAD broke out above 1.2772 and remains bulllish. I opened a long yesterday, I think I will keep it open until it reaches 1.2990.