Usd/cad

Dec 9, 2015
533
8
28
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.
 
Dec 9, 2015
533
8
28
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.
 
Dec 9, 2015
533
8
28
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.
 
Dec 9, 2015
533
8
28
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.
 

fxstrategist

Active member
Apr 10, 2014
558
15
28
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

Active member
Sep 9, 2013
916
8
28
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.
 
Apr 8, 2014
634
17
28
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.