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USDCAD
Membro Desde Oct 02, 2014
909 posts
forex_trader_338100
Membro Desde Jun 21, 2016
898 posts
May 03, 2017 at 08:10
Membro Desde Jun 21, 2016
898 posts
USDCAD up 0.06% at 1.3721 facing the next up barrier at 1.3759 (2017 high May 2) seconded by 1.3861 (high Feb.24 2016) and then 1.4017 (high Feb.11 2016). On the downside, a break below 1.3647 (low May 2) would open the door to 1.3632 (23.6% Fibo of the Apri-May rally) and finally 1.3554 (38.2% Fibo of the April-May rally).
Membro Desde Oct 02, 2014
909 posts
Membro Desde Oct 11, 2013
775 posts
May 11, 2017 at 01:13
Membro Desde Oct 11, 2013
775 posts
The USDCAD just keeps oscillating around the 1.3700 level and it is forming like a symmetrical triangle on the daily chart. The price may head in any direction, but since the trend coming into the formation is bullish, there is a higher probability of seeing a bullish breakout. The 1.3800 level may act as resistance.
Membro Desde Oct 02, 2014
909 posts
May 15, 2017 at 15:40
(editado May 15, 2017 at 15:40)
Membro Desde Dec 09, 2015
823 posts
arigoldman posted:
The upward trend seems strong. Expecting it to continue in the next week.
I thought so too, but USD/CAD formed a second bearish shooting star bar on the weekly time frame at the resistance at 1.3800. The possibility for another rally is decreasing, I think.
Membro Desde Sep 01, 2016
1 posts
Membro Desde Oct 11, 2013
775 posts
May 17, 2017 at 15:35
Membro Desde Oct 11, 2013
775 posts
There has been a good pullback on the USDCAD to the 1.3600 zone, but the area may act as support and the pair may try to go and visit the 1.3700 level again. However, a breakout below the 1.3600 level may accelerate the bearish momentum towards the 1.3500 zone.
Membro Desde Oct 02, 2014
909 posts
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