Reklāma
USDCAD
Biedrs kopš
823 ieraksti
Aug 23, 2016 at 10:11
(labots Aug 23, 2016 at 10:14)
USD/CAD formed a pair of hammer candlesticks on the 1-hour time frame above the support at 1.2870, I think next target will be around 1.2930 - 1.2950.
Biedrs kopš
823 ieraksti
Aug 24, 2016 at 15:28
USD/CAD is testing 1.2950, I am waiting for the breakout to open new long positions. I think that if it does break out it will reach at least 1.3000.
Biedrs kopš
1 ieraksti
Aug 25, 2016 at 01:39
USD/CAD rally was short lived
With the fall in oil comes a decline in the USD/CAD pair. The pair was already in a medium-term downtrend but recently had been rallying with oil. Crude oil prices made their way to nearly $50 this month which provided a catalyst for USD/CAD to rally. With the build in oil, today the momentum behind the crude rally is over, and this will weigh on the Loonie.
From a technical perspective, the pair has been consolidating sideways all week near the 1.2950 area which is a support/resistance line tracing back to October 2105 with multiple touch point since then. On an 8 hour chart, the price has run to the median line and has been moving sideways. With each bullish push into the declining pitchfork, the median line has rejected price setting up the reversal.
Current situation:
- The pair has found resistance at the median line of the pitchfork on the 8-hour chart.
- US economic data dominates the calendar Thursday and Friday this week. Next week more US data and Canadian m/m GDP.
Looking ahead:
- Lower oil prices will result in a weaker Loonie. The market currently lacks a catalyst to push oil up over $50. There is another inventory report next Wednesday.
Notes:
- The overnight lending rates of the two currencies are now the same negating any carry benefit for the Loonie.
With the fall in oil comes a decline in the USD/CAD pair. The pair was already in a medium-term downtrend but recently had been rallying with oil. Crude oil prices made their way to nearly $50 this month which provided a catalyst for USD/CAD to rally. With the build in oil, today the momentum behind the crude rally is over, and this will weigh on the Loonie.
From a technical perspective, the pair has been consolidating sideways all week near the 1.2950 area which is a support/resistance line tracing back to October 2105 with multiple touch point since then. On an 8 hour chart, the price has run to the median line and has been moving sideways. With each bullish push into the declining pitchfork, the median line has rejected price setting up the reversal.
Current situation:
- The pair has found resistance at the median line of the pitchfork on the 8-hour chart.
- US economic data dominates the calendar Thursday and Friday this week. Next week more US data and Canadian m/m GDP.
Looking ahead:
- Lower oil prices will result in a weaker Loonie. The market currently lacks a catalyst to push oil up over $50. There is another inventory report next Wednesday.
Notes:
- The overnight lending rates of the two currencies are now the same negating any carry benefit for the Loonie.
Pielikumi
Uncommon Wisdom for All
Biedrs kopš
823 ieraksti
Aug 25, 2016 at 15:26
USD/CAD is stuck in a relatively tight range. I don't think we will see much volatility and an end to the range before Janet Yellen's speech tomorrow.
Biedrs kopš
823 ieraksti
Aug 26, 2016 at 15:25
Janet Yellen's speech only mostly caused a whipsaw, but the pair is bullish at the moment. I think it will reach target 1.2940.
Biedrs kopš
905 ieraksti
Aug 28, 2016 at 06:52
Bullish on the pair.
Positivity
Biedrs kopš
823 ieraksti
Aug 29, 2016 at 15:40
Despite the initial whipsaw USD/CAD climbed with about 180 pips after the FED Chair's speech last week and broke above 1.3000. I think next target is 1.3070, maybe even 1.3100.
Biedrs kopš
823 ieraksti
Aug 30, 2016 at 15:44
USD/CAD broke above 1.3070 and I think it will likely reach 1.3100 soon. If it breaks out above that level next target will be around 1.3140 - 1.3160.
Biedrs kopš
823 ieraksti
Aug 31, 2016 at 08:33
USD/CAD reached a hugh at 1.3111 and found some resistance at that level, forming a pair of doji bars on the four-hour time frame. I think there will be retracement towards 1.3030.
Biedrs kopš
823 ieraksti
Sep 01, 2016 at 10:18
(labots Sep 01, 2016 at 10:20)
The pair is still consolidating around 1.3110 - 1.3120, I think that consolidation won't end before the NFP tomorrow.
Biedrs kopš
823 ieraksti
Sep 05, 2016 at 15:30
USD/CAD dropped significantly after the NFP, but I closed my short position at 1.2910 and I think I will wait for it to break below 1.2900 before I open a new one again.
Biedrs kopš
315 ieraksti
Sep 06, 2016 at 12:17
Oil slipping, USDCAD back above 1.2910.
Biedrs kopš
823 ieraksti
Sep 06, 2016 at 15:27
USD/CAD broke well below 1.2900 and is now testing 1.2850. I think the drop will continue at least until the pair reaches 1.2800 - 1.2780.
Biedrs kopš
823 ieraksti
Sep 07, 2016 at 09:02
(labots Sep 07, 2016 at 09:04)
The Bank of Canada will be announcing its rate statement later today, I think the pair will continue consolidating above 1.2850 until that time.
Biedrs kopš
1 ieraksti
Sep 07, 2016 at 12:09
@dianajs , do you think that the interest rate decision, if it will remain at 0.50%, will give the cad a bullish trend, or will remain its bearish bias?
Biedrs kopš
315 ieraksti
Sep 07, 2016 at 12:33
jayrness posted:
@dianajs , do you think that the interest rate decision, if it will remain at 0.50%, will give the cad a bullish trend, or will remain its bearish bias?
There is virtually no chance that they'll change the rate. Its all about the statement.
Biedrs kopš
823 ieraksti
Sep 08, 2016 at 15:31
(labots Sep 08, 2016 at 15:31)
I would have been very surprised if they had changed it, to be honest.
Biedrs kopš
823 ieraksti
Sep 09, 2016 at 15:31
Following the news today USD/CAD broke above 1.2970 and then above 1.3000. I think next target will be around 1.3080 - 1.3100.
Biedrs kopš
20 ieraksti
Sep 13, 2016 at 10:16
do you think USD CAD will rebound now and go back to a downtrend to 1.28
katiane.tomas@
Biedrs kopš
823 ieraksti
Sep 13, 2016 at 15:37
USD/CAD broke above 1.3150, I think that next target is at least 1.3200, perhaps even 1.3300.
