Usd/cad

USD/CAD bounced off 1.3820 and is currently testing 1.3890. I think it will reach 1.3900, possibly 1.3930 before the end of the holidays but it's doubtful the bullish trend will continue before the new year.
 
I can see two scenarios here – the basic (1) and alternative (2).
USDCAD.jpg
 
Right now, I can’t see the entrance for opening a deal on the asset, so I’ll wait until the price reaches one of the levels, and then I’ll make a decision.
USDCAD.jpg
 
Usdcad

Consolidation continues on the USDCAD, daily chart. Possible triangle formation. 21 day EMA acting as good resistance. Waiting for breakout.
 
I thought the price would be more dynamic, but now it moves very inertly. I expected more.
OrDZN0l.png
 
That seems like a clearly defined double bottom to me. It's possible it will start climbing again.
 
Usdcad

The USDCAD could not stay below the 1.3300 level and we could see a pullback to the 200 day EMA around the 1.3400 level.
 
It's retracing at the moment, but the bearish trend is still valid, so once it reaches the resistance at 1.3370 it might bounce off of it.
 
I can’t see a favorable opening for a deal right now. Therefore, I’ll wait to see which of the variants is the right one.
Xa8U8Z3.png
 
This don't look too promising to me...you? unless you like catching falling kinves :eek:
 

Attachments

  • usdcad4.JPG
    usdcad4.JPG
    91.6 KB · Views: 214
The USD/CAD is trading at major support. Below 1.31 we can expect a move to 1.29. However, bulls may try to take control of the pair and push price above 1.33.
 
Usdcad

Pullback on the USDCAD to the 1.3300 level, from there the price may continue lower, the bearish trend is still in place.
 
The pair finally reached 1.2944, which is a major level of support. If it breaks below that level it may fall all the way to 1.2600.
 
Last edited:
Top