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USDCAD
Aug 03, 2016 at 14:59
It looks like the pair is forming a relatively tight range. After the move to the upside yesterday USD/CAD rebounded from 1.3150 and more importantly, it formed a hanging man candlestick on the daily tile frame below the same resistance level. I think next target is 1.3000 again, especially if it breaks below 1.3080.
forex_trader_29148
Member Since Feb 11, 2011
1768 posts
Aug 03, 2016 at 16:15
asdcending wedge means it will go down soon
Aug 05, 2016 at 03:57
CAD has found support at the 1.3030 ara, but with oil gaining we could see CAD below the 1.30 level very soon. $ strength appears to have vanished and maybe Fridays data will push CAD out of it's range and lower. Upward channel on the daily chart sees current price action heading for the lower line suggesting a possible bounce, but a few days to go I think before we see this hit.
Winners add to winners, Losers add to losers.......
Member Since Oct 02, 2014
905 posts
Aug 06, 2016 at 12:59
Bullish on th eshort-term.
Positivity
Member Since Oct 11, 2013
769 posts
Aug 09, 2016 at 03:27
The rally may continue on the USDCAD after the consolidation of the last couple of days bellow the 1.3200 level.
Aug 10, 2016 at 14:50
(edited Aug 10, 2016 at 14:53)
Yesterday the double top was a very clear signal for a move to the downside and the pair reached the support at 1.2990 but then rebounded from it. I think that next target to the upside is around 1.3080.
Member Since Oct 11, 2013
769 posts
Aug 12, 2016 at 00:06
The USDCAD goes back down as oil rallies, but it may stall around the 1.3000 zone if oil does not continue heading higher, which seems very unlikely.
Member Since Oct 11, 2013
769 posts
Aug 23, 2016 at 05:00
The USDCAD goes back up as oil retreats, but the pair may very well go back down if oil goes up again.
