Usd/cad

dianajs

Established member
533 8
USD/CAD continues its bearish trend. Expecting more to the downside today.
The pair rebounded from 1.3160 and it may retrace back to 1.3270 - 1.3280, but I too think that the trend remains bearish and this is not the end of the drop.
 

dianajs

Established member
533 8
The pair rebounded from 1.3200 after forming a pin bar on the H4 time frame. I think it will rally back to 1.3300 as part of the correction above the support at 1.3160 - 1.3200.
 

dianajs

Established member
533 8
I opened a long position at 1.3230. For the moment my target is at 1.3300, depending on how it develops there I may keep it open.
 

dianajs

Established member
533 8
I closed my long position once the pairing reached 1.3300, I think it is forming a consolidation channel between 1.3180 and 1.3300.
 

dianajs

Established member
533 8
USD/CAD fell to 1.3246 after a rally to 1.3350. The pair remains bearish and I think it will reach 1.3200 soon.
 

csc2009

Established member
633 17
Correction movement continues, CAD remain under pressure. Support level can be found around 1.3160.
 

dianajs

Established member
533 8
USD/CAD rebounded from 1.3210 but so far remains very range-bound. I think I will refrain from opening new positions for the moment.
 

dianajs

Established member
533 8
I think that the current drop is just the beginning of the move to the downside and its closest target is around 1.3030 - 1.3000.
 

fxstrategist

Established member
579 15
Usdcad

The USDCAD confirms a breakdown below the 1.3000 level and it may be heading towards the 1.2900 level, especially if the 55 day EMA completes a cross below the 200 day EMA around the 1.3344 level.
 

gerryg

Established member
900 6
What do you think about oil impact on Cad? It will still experience high bearish pressure from it, so I think it will be mainly traded to the downside now.
 

csc2009

Established member
633 17
Weak US dollar and the recovery in oil prices, another bad week to come for the pair.
The pair has already broke below critical support 1.3000, further delcine could be triggered easily.