USD CAD Support & Resistance lines

[xtraction]

USDCAD is back to "pre 120 pips GDP rocket" S&R levels. it took 24 hours longer than I thought but UC got there eventually.

In fact it's back to the pip...1.0650.

Does anyone know what caused the "120 pips GDP rocket" ?

[cas]

Does anyone know what caused the "120 pips GDP rocket" ?

Canadian released GDP numbers were below forecast.

[cas]

Quiet on the CAD economic data front until Thursday.

Another USDCAD pip rocket coming...or is it not...?

13:30 GMT CAD Building Permits M/M Sep
15:00 GMT CAD Ivey PMI Oct

Todays USDCAD range 1.0677 - 1.0584

Oil is hugging minor S&R around 80.46

Interesting Thursday coming up I reckon.

[Jason Rogers]

Bounced right off of the resistance trendline...

And the way oil is consolidating, looks like a big flag to the upside on daily chart...the trend is still up for the year.

[cas]

Another USDCAD pip rocket coming...or is it not...?

There ya go...last friday's repeat...another "120 pips rocket" it was...

[Jason Rogers]

Bounced right off of the resistance trendline...

And the way oil is consolidating, looks like a big flag to the upside on daily chart...the trend is still up for the year.

Just reading my previous post and took a look at the chart...doesn't make sense. Meant to put a chart of oil . Light on the CAD economic data front for the rest of the week.

[cas]

Light on the CAD economic data front for the rest of the week.

Yeah...another "120 pip rocket" coming friday would be nice. That would be the third in a row and one could start calling it a regular occurring event.

[xtraction]

Sellers have been "marking down" usdcad for about 2 weeks. Smart buyers are keeping their ears to the ground and money in their pocket until the "sale" starts.