Nothing major happened to the pair this last week.
USD/CAD has rallied above 1.2530 as I thought it would, so I wouldn’t be surprised if it reaches 1.2600 after all. Next target above 1.2600 could be around 1.2650.
I agree with dianajs but if the price slips below the 4-hour uptrend line will touch 1.2435
The USDCAD is consolidating around the 1.2500 leve without a clear direction, the pair may take a clear trend on Friday after the Canadian fundamentals.
USD/CAD has a double top at 1.2597 and 1.2590, I think there will be a pullback from that zone and a drop to 1.2400.
Good move to the downside, somehow not strong enough though.
I thought it would fall to 1.2400, but apparently that wasn’t the case as it rebounded from 1.2450 and it may now finally rally above 1.2600.
USD/CAD did rally above 1.2600 as I thought it would. The pair remains very bullish and I wouldn’t be surprised if it continues moving north to the last local high at 1.2777.
USD/CAD appears capped at current level. Above 1.2670 bulls will take over, right now pair is in bearish territory.
The USD/CAD pair exposed to a 3-month high and broke the 1.2800 psychological level. The next immediate support is 1.2860.
USD/CAD is stuck in a tight range above 1.2780. I think that once that ends it will keep moving north to 1.3000.
There is a double top at 1.2916, so I think we might see a move to the downside. However, we should also keep in mind that the NFP data will come out tomorrow and then there should be a lot of volatility.
The USDCAD pulls back to the 200 day EMA around the 1.2819 level and if it continues falling it may drop to the 55 day EMA around the 1.2606 level. To the upside, its next resistance is at the 1.3000 level.
The Canadian dollar lost a lot this week to the US dollar. I think that’s a healthy depreciation.
USD/CAD is developing within a very tight sideways consolidation at 1.2740 but I think that eventually the depreciation will contunue to 1.2700.
USD/CAD has an aggressive bearish move over the last four days and hit the 23.6% Fibonacci retracement level (low at 1.2060 and high at 1.2915).
The pair depreciated a bit, hopefully it will recover.
In my opinion it may even continue depreciating, especially if it breaks out below 1.2700. Next target could be around 1.2650 - 1.2630.
USD/CAD slipped below 1.2700 as I thought it would and I opened a short position when it did. In my opinion, 1.2650 - 1.2630 is the first target but it may drop lower.
Good to go long now i think.
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