Usd/Cad Target at 1.0480, Oil Approaching $74.90

The cad is currently in a pull-back mode after wave III) found the bottom, after the break through the support line and just above the 1.0630, wave III lows. If the wave count is correct, wave IV) is now in process, which means that another push down to previous lows… Read more….

USD/CAD Finds Resistance at 1.1556

The USD/CAD advance in today’s session has encountered resistance at 1.1556, a fresh 1-month high after climbing around 200 pips since the early European session from 1.1360 to 1.1556. Read more…

USD/CAD Bounces at 1.1250 and Tests 1.1300 After Canadian Retail Sales

USD/CAD has bounced at the 1.1250 level to rise above 1.1280 and test 1.1300 resistance, fueled by worse than expected Canadian retail sales in April. The currency pair rose 50 pips after the data was released, moving to 1.1290/1.1300, yet 0.25% below today’s opening price. Read more…

USD/CAD Finds Support at 1.1235

The USD/CAD’s decline from a 1.1365 intra-day high has found support at 1.1235 in the American session after falling 130 pips since the European morning. Currently, the pair is trading around 1.1270/80, yet in the negative daily field, trading 0.15% below today’s opening price. Read more…

Chart Of The Day: USD/CAD

Price action on USD/CAD, a daily chart of which is shown, has just hit and slightly retreated from a critical resistance juncture in the 1.1450 price region on substantial bullishness. This occurs after price broke out cleanly above an accelerated downtrend resistance line extending from the late April swing high. Read more….

USD/CAD Breaks 1.1300 and Posts 1.1350, Fresh June High

USD/CAD has broken the 1.1300 level in the European session, and it has posted 1.1350 as a new June high after rising 1.30% so far today from the 1.1205 opening price action in a 150-pip increase in movement. Currently, the pair is trading at around 1.1335/45. Last week, USD/CAD declined 0.12% after opening at 1.1198 [...]

USD/CAD Forming Head and Shoulders Pattern

The USD/CAD is in the third stage of a 3 part Head and Shoulders formation. The above chart is the recent price action of the pair on a 4 hour time frame. The pair is currently completing the third leg of the Head and Shoulders formation, but needs to reach the 1.0800 neckline to complete [...]

Chart of the Day: USD/CAD (Daily FX via Yahoo! Finance)

The USD weakness appears to be increasing this morning with the USD/CAD moving down on the 4-hour chart. This is really an oil play as this pair has a tendency to fall as the price of oil rises.

Forex: USD/CAD rises to test 1.1250 after rebounding from 1.1175 (The Forex Market)

FXstreet.com (Barcelona) – After rebounding at 1.1175, coming from its 125 pips declines from 1.1290, fresh 1-week high, the USD/CAD has risen around 75 pips to test 1.1250 levels in the American session. Currently the pair is trading around 1.1225/35, 0.35% above today’s opening price action.

Usd/Cad Correction, Oil Wave V) at $70

Usd/Cad has made a perfect retracement in the past few sessions into our blue wave b, discussed on Thursday. The prices in wave b made a small turning point in wave b/ii exactly after hitting 61.8% of wave a/i distance. This is a perfect Fibonacci level for a turning point… Read more….

Forex: USD/CAD tests 1.1040 resistance after Canadian unemployment data (The Forex Market)

FXstreet.com (Barcelona) – The USD/CAD has reacted with a 30 pips jump in the first seconds after the worst than expected May Unemployment Canadian data from 1.1010 to test 1.1040. After that, the CAD has begun to recover slightly to initials levels and the USD/CAD is currently trading around 1.1015/25,0.25% above today’s opening price.

Forex: USD/CAD breaks above 1.1100 level ahead BoC rate decision (The Forex Market)

FXstreet.com (Barcelona) – After finding support at 1.1020, coming from its 120 pips decline from 1.1142, intra-day high, the USD/CAD has begun to rise from this intra-day low to reach 1.1120 ahead the BoC rate decision. Currently the pair is fighting to consolidate levels above 1.1100.

USD/CAD still Dropping

Despite the resurgence of the USD from the improved treasury yields, the USD/CAD has only taken a momentary pause in its recent downward spiral. After retracing to approximately the 38.2% Fib level, the pair is once again headed south. Read more….

Forex: USD/CAD breaks above 1.1100 level ahead ECB rate decision (The Forex Market)

FXstreet.com (Barcelona) – After finding support at 1.1020, coming from its 120 pips decline from 1.1142, intra-day high, the USD/CAd has begun to rise from this intra-day low to reach 1.1120 ahead the ECB rate decision. Currently the pair is fighting to consolidate levels above 1.1100.

Chart Of The Day: USD/CAD

Price action on USD/CAD, a daily chart of which is shown, has been descending within a steep parallel downtrend channel since the fourth test of the 1.3 region back in early March. The drop has been especially steep since the swing high to 1.2500 resistance in late April. During the… Read more….