Uptrend this week!!! Uh… no. Not really.
I don’t get it. Marketwatch also reported: “The dollar USDCAD, +0.29% rose to 1.165 Canadian dollars, its highest level since last Wednesday.”
This pair broke new 7-day highs back on the 28th of November and did it again on December 1, 5, 8, 9, 10, 11, 12, and 15 and has not broken higher than the 15th high since.
Thus, on Wednesday, Thursday, and Friday this pair posted lower highs than the previous session. Only today did it post a higher high than the previous session by a mere 8.7 pips, failing to break above the highs of last Monday, Tuesday, Wednesday, or Thursday. It stopped 28.8 pips short of the current 7-day high. And the volatility fell from a 226 pip 3-day range to an 82 pip 3-day range from last Monday to today. (I understand it DID go slightly higher than Thursday in some markets, but by a single digit).
This pair has certainly been trending upward, but that begin weeks ago and the last five sessions have shown no confirmation whatsoever that the trend is continuing or has become stronger. True THC will kick in if the pair goes above the highs of the 15th.
An arbitrager on acid must see past the hype.
While I am long this pair and agree that the trend is up, today’s session gives no new information to trade on.
The Canadian Dollar registered a big move to the downside with a renewed optimism in the US currency.
The pair has been very difficult to trade lately.
Tough to get on the waves of the pair lately.
USD/CAD tried to make a bullish move on Friday but somehow failed short and now price is 1.3092. Improved momentum can drive the pair during the next week.
USD/CAD got some positive vibes this week and is now trading at 1.3105.
Good move last week, i’m kinda sad i missed buying!
Good move to the upside this week. I’m waiting to sell around 1.3650.
USD/CAD is currently trading at 1.3335, lower from 1.35 before the announcement that the Fed is raising the interest rate. Consolidation around current price is expected to continue today.
Price looks strongly consolidated between 1.3280 and 1.3350. Waiting for a breakout, i’m expecting a move to the upside next week.
USD/CAD reacted bearishly to today’s CAD news. The pair is now 1.3335 down from 1.3372. Consolidation continues for now.
USD/CAD had a good week this week. The pair is now trading at 1.3391 and looks prone to continue to the upside.
USD/CAD found support at 1.3224 and is now trading a bit higher at 1.3317. We might see the pair consolidate ahead of today’s US data.
Good move week. I expect the pair to depreciate with about 80-120 pips.
The pair stays well within the range, 1.3500 could act as significant resistance level and follow by 1.36.
The pair is having a decent rally to the upside as bulls are pushing the price with each day. Good res 1.3720.
USD/CAD reaches higher this week despite the depreciation of the US dollar. Uptrend seem intact!
The upward trend seems strong. Expecting it to continue in the next week.
The Canadian dollar posted some gains against the US dollar. I’m expecting the downtrend to continue in the next week.
Very difficult to trade that pair lately.
