Me too. Frankly, I would be surprised if it stops depreciating at 1.2000, which it will almost certainly reach soon.
USD/CAD is depreciating again and it is at the support at 1.2100, but I think it will keep falling. 1.2060 is the next possible target, should there be a breakout.
Staying away at the moment but i see a good buying level a little lower around 1.19.
USD/CAD is stuck in a tight range above the support 1.2060 but the trend is still very bearish, so I have little doubt that the pair will eventually reach at least 1.2000 if not 1.1900.
I’m really waiting to go long on the pair!
I have already opened a long position. Clearly it is time for some correction, although the overwall downward trend doesn’t seem to have ended yet.
USD/CAD met a resistance at 1.2337 and it is currently struggling to break out above that level. If it does, I think it will rally to 1.2400.
I missed selling at 1.24. I hope it gets back so i can go short.
Happy Pip recently put both technical and fundamental analysis together for USD/CAD, with a trade idea… y’all might want to check it out: Trade Update: USD/CAD Pullback to 1.2400 - BabyPips.com
1 Like
The USDCAD is operating in an ascending channel. Currently price action is at the 61.8 Fib zone of the drop from the high of August 15, 2017 to the low of September 8, 2017. Technicals and price action on the H4 time frame bear southward.
I may be wrong. Trade safe and prosper.
The bullish pullback on the USDCAD seems to have found a resistance at the 1.2500 level and the 55 day EMA. The bearish trend may continue if the pair fails to break above the 1.2500 zone.
Neutral at the moment. Too hard to pick a direction.
USD/CAD is within the resistance zone between 1.2470 and 1.2430. I think it is possible to see a reversal and a new drop in the next few hours to a few days.
The USDCAD is still stuck around the 1.2500 level where the 55 day EMA is coinciding with the 200 week EMA. There is a higher probability of seeing a bearish bounce from the current level, but there could also be a bullish breakout.
I think the pair has finally broken out above 1.2530. If that is indeed the case the correction to the upside could last to 1.2740.
It did break out above 1.2530 and I almost opened a long position before I remembered that the NFP announcement was today and I thought better of it. I’d rather see what effect the NFP will have first before I open any positions.
1.2595 proved to be a too strong resistance for the correction. I think USD/CAD is falling back to the support at 1.2470 and I have already shorted.
No clear direction on the USDCAD, the pair is still consolidating around the 1.2500 level from where it may suddenly head in any direction.
I think that the pair is bearish, but since the FOMC meeting minutes will be announced today that could change drastically.
USD/CAD rebounded from 1.2430. I already have a long position, I think it will rally to 1.2530 or even to 1.2600.