USDCAD

USD/CAD finally rebounded from 1.3385 today. I think it will retrace to 1.3460 - 1.3470, but I don't think this is the end of the downward trend.

I agree with dianajs, clear break yesterday calls for more downward movement, but patience for the price to vome back to break point (previous support) around 1.3470 is key to successful trade imho

good luck to all

N

The corrective movement to the upside reached all the way to 1.3500 before it ended. The pair started falling after a pair of bearish pin bars formed on the H4. I think it will test the last low at 1.3387.

Very difficult to trade that pair lately.

indeed, ranging market for USDCAD this past friday... the 1.3450 support appears hard to break.. , still on the corrective side.. trying to get back in the trend... if you look at other CAD pairs , for ex: EUR-CAD, nice trend on friday, reacting to the daily 20 SMA nicely..
good luck to us all

arigoldman posted:
Very difficult to trade that pair lately.

 It's caught it in a tight range before the US Non-Farm payrolls on Friday. That should be the catalyst that prompts further development.

USD/CAD rebounded from 1.3435 and I think it will rally toward 1.3540, or even toward 1.3560. I don't think there would be much larger development before the NFP.

USDCAD currency pair status is going on down 1.3487 CAD

USD/CAD slightly lower at 1.35, relatively unchanged after the disappointing US data release.

USDCAD testing the H4 20 SMA around 3490 ... nice correction... a move up would suggest a re-test of 1.3535 and possibly 1.3570 , daily 20 SMA..

USD/CAD is very range-bound at the moment. I think another rally toward 1.3540 is possible in the short-term.

USD CAD touched the bottom of its channel on H4 @ 1.3442.. I suspect a possible move up to 1.3505 and ultimately 1.3570

on the flip side, it could go back to 1.3426 amd 1.3390 but my bias is upward today.

good luck to everyone

Staying out of this pair at the moment. No clear direction.

arigoldman posted:
Staying out of this pair at the moment. No clear direction.

 It's still range-bound but it has fallen to the support at 1.3450. I think that a new rally to 1.3500 - 1.3540 is possible.

The pair has finally broken out below the range and it's essentially in freefall. I think its closest target is at 1.3200 but this is only the beginning of the drop.

USD/CAD broke out below 1.3200 practically effortlessly. I think that the drop might continue all the way to 1.3100 or even 1.3000.

dianajs posted:
 USD/CAD broke out below 1.3200 practically effortlessly. I think that the drop might continue all the way to 1.3100 or even 1.3000.

given the US fed rate decision today, it could very well be, but in the meantime, there should be a decent retracement to put the price in more 'neutral' territory before the news, I say around 1.3225-1.3250 zone...

good luck to all

USD/CAD continues its bearish trend. Expecting more to the downside today.

The USDCAD makes a daily low at the 1.3162 level, but it goes back up, forming what it appears to be a hammer candlestick pattern on the daily chart. A bullish pullback is possible on the following days.