Daily Pivots: (S1) 1.3132; (P) 1.3171; (R1) 1.3192; More…

Intraday bias in USD/CAD remains neutral for the moment. We’re preferring the case that pull back from 1.3385 has completed at 1.3063 already. Above 1.3216 will bring retest of 1.3385 first. Break will resume whole rally from 1.2061 for 1.3685 fibonacci level. However, firm break of 1.3067 resistance turned support will bring deeper fall to channel support (now at 1.2856).

In the bigger picture, as long as channel support (now at 1.2856) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

USD/CAD’s retreat from 1.3385 extended to 1.3063 and breached 1.3067 but rebounded quickly. But such rebound lost momentum after hitting 1.3216. Initial bias is neutral this week first. On the upside, above 1.3216 will target a test on 1.3385 resistance. Break there will resume whole rally from 1.2061 for 1.3685 fibonacci level. However, firm break of 1.3067 resistance turned support will bring deeper fall to channel support (now at 1.2845).

In the bigger picture, as long as channel support (now at 1.2845) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high). The development keeps long term up trend from 0.9406) and that from 0.9056 (2007 low) intact. It’s early to tell, but there is now prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3131; (P) 1.3175; (R1) 1.3200; More…

USD/CAD retreated after hitting 1.3216 and intraday bias is turned neutral again. We’re holding on to the view that corrective pull back from 1.3385 has completed at 1.3063 already. Above 1.3216 will bring retest of 1.3385 first. Break will resume larger rally to 1.3685 fibonacci level. However, firm break of 1.3067 resistance turned support will bring deeper fall to channel support (now at 1.2832).

In the bigger picture, as long as channel support (now at 1.2838) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

Daily Pivots: (S1) 1.3111; (P) 1.3163; (R1) 1.3262; More…

Despite dipping to 1.3063, USD/CAD drew strong support from 1.3067 key resistance turned support and rebounded. Break of 1.3173 indicates that corrective pull back from 1.3385 has completed already. Intraday bias is turned back to the upside for retesting 1.3385 first. Break will resume larger rally to 1.3685 fibonacci level. In case of another retreat, we’d continue to extend strong support from 1.3067 to contain downside.

In the bigger picture, as long as channel support (now at 1.2838) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

Daily Pivots: (S1) 1.3092; (P) 1.3119; (R1) 1.3139; More…

USD/CAD’s recovery is limited below 1.3159 minor resistance so far and intraday bias stays neutral. For now, we continue to expect strong around 1.3067 resistance turned support to complete the correction from 1.3385 to bring rebound. On the upside, above 1.3159 minor resistance will flip bias back to the upside for retesting 1.3385. However, firm break of 1.3067 will bring deeper fall to channel support (now at 1.2838).

In the bigger picture, as long as channel support (now at 1.2838) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

Daily Pivots: (S1) 1.3069; (P) 1.3099; (R1) 1.3141; More…

USD/CAD breached 1.3067 but quickly recovered. Intraday bias remains neutral first. At this point, we’d still expect strong support around 1.3067 resistance turned support to complete the correction from 1.3385 to bring rebound. On the upside, above 1.3159 minor resistance will flip bias back to the upside for retesting 1.3385. However, firm break of 1.3067 will bring deeper fall to channel support (now at 1.2825).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

Daily Pivots: (S1) 1.3059; (P) 1.3109; (R1) 1.3145; More…

USD/CAD’s decline from 1.3385 continues today an reaches as low as 1.3083 so far. At this point, we’re still expecting strong support around 1.3067 resistance turned support to bring rebound. Above 1.3159 minor resistance will flip bias back to the upside for retesting 1.3385. However, firm break of 1.3067 will bring deeper fall to channel support (now at 1.2825).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

USD/CAD dropped further to as low as 1.3076 last week. For now, we’re still expecting strong support around 1.3067 resistance turned support to bring rebound. Above 1.3224 minor resistance will flip bias back to the upside for 1.3385 first. However, firm break of 1.3067 will bring deeper fall to o channel support (now at 1.2825).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. However, sustained break of the channel support will argue that rise from 1.2061 has completed and will bring deeper fall to 1.2526 support to confirm.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high). The development keeps long term up trend from 0.9406) and that from 0.9056 (2007 low) intact. It’s early to tell, but there is now prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3109; (P) 1.3138; (R1) 1.3166; More…

No change in USD/CAD’s outlook. Fall from 1.3385 is seen as a correction and could extend lower. But downside should be contained by 1.3067 resistance turned support to bring rebound. Above 1.3224 minor resistance will turn bias to the upside for retesting 1.3385 first. However, firm break of 1.3067 will bring deeper decline to channel support (now at 1.2809).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above.

Daily Pivots: (S1) 1.3107; (P) 1.3158; (R1) 1.3192; More…

USD/CAD’s fall from 1.3385 resumed after brief recovery and breaks 1.3128. Intraday bias is back mildly on the downside. At this point, such decline is viewed as a correction. Downside should be contained by 1.3067 resistance turned support to bring rebound. Above 1.3224 minor resistance will turn bias to the upside for retesting 1.3385 first. However, firm break of 1.3067 will bring deeper decline to channel support (now at 1.2845).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above.

Daily Pivots: (S1) 1.3141; (P) 1.3185; (R1) 1.3230; More…

A temporary low is formed at 1.3128 in USD/CAD with 4 hour MACD crossed above signal line. Intraday bias is turned neutral first. While fall from 1.3385 could still extend, we’d expect downside to be contained there to bring rebound. On the upside, above 1.3258 minor resistance will bring retest of 1.3385. However, firm break of 1.3067will bring deeper decline to channel support (now at 1.2839).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above.

Daily Pivots: (S1) 1.3079; (P) 1.3178; (R1) 1.3233; More…

With 1.3258 minor resistance intact, pull back from 1.3385 short term top could extend lower. But for now, , we’d expect downside to be contained there to bring rebound. On the upside, above 1.3258 minor resistance will bring retest of 1.3385. However, firm break of 1.3067will bring deeper decline to channel support (now at 1.2831).

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above.

USD/CAD edged higher to 1.3385 last week but formed a short term top there and retreated Initial bias is now on the downside this week for deeper fall pull to 1.3067 resistance turned support. For now, we’d expect downside to be contained there to bring rebound. However, firm break there will bring deeper decline to channel support (now at 1.2825). On the upside, above 1.3258 minor resistance will bring retest of 1.3385.

In the bigger picture, as long as channel support (now at 1.2825) holds, we’ll holding to the bullish view. That is, fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high). The development keeps long term up trend from 0.9406) and that from 0.9056 (2007 low) intact. It’s early to tell, but there is now prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3211; (P) 1.3282; (R1) 1.3324; More…

USD/CAD’s pull back from 1.3385 extends lower today and intraday bias is mildly on the downside. Fro now, we’d expect strong support from 1.3067 to contain downside to bring rise resumption. On the upside, firm break of 1.3385 will resume recent rally for 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3283; (P) 1.3334; (R1) 1.3394; More…

Despite breaching 1.3381 to 1.3385, USD/CAD quickly retreated back to established range. Intraday bias remains neutral as consolidation could extend. In case of deeper pull back, downside should be contained above 1.3067 resistance turned support to bring rise resumption. On the upside, firm break of 1.3381 will resume recent rally for 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3272; (P) 1.3304; (R1) 1.3334; More…

Intraday bias in USD/CAD remains neutral for consolidation below 1.3381. Deeper pull back cannot be ruled out. But downside should be contained above 1.3067 resistance turned support to bring rise resumption. On the upside, break of 1.3381 will resume recent rally for 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3220; (P) 1.3301; (R1) 1.3343; More…

USD/CAD is staying in consolidation below 1.3381 and intraday bias remains neutral. Deeper pull back could be seen to 4 hour 55 EMA (now at 1.3216) and below. But downside should be contained above 1.2948 support to bring another rally. On the upside, firm break of 1.3381 should target 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3220; (P) 1.3301; (R1) 1.3343; More…

Intraday bias in USD/CAD remains neutral for consolidation below 1.3381. Deeper pull back could be seen to 4 hour 55 EMA (now at 1.3200) and below. But downside should be contained above 1.2948 support to bring another rally. On the upside, firm break of 1.3381 should target 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

USD/CAD rose further to 1.3381 last week but subsequent fall suggests temporary topping, ahead of 100% projection of 1.2246 to 1.3124 from 1.2526 at 1.3404. Initial bias is turned neutral this week first. Deeper pull back could be see to 4 hour 55 EMA (now at 1.3190) and below. But downside should be contained above 1.2948 support to bring another rally. ON the upside, firm break of 1.3381 should target 1.3685 medium term fibonacci level next.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2916 resistance turned support holds, even in case of deep pull back.

In the longer term picture, corrective fall from 1.4689 (2015 high) should have completed with three waves down to 1.2061, just ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high). The development keeps long term up trend from 0.9406) and that from 0.9056 (2007 low) intact. It’s early to tell, but there is now prospect of extending the long term up trend to 61.8% projection of 0.9406 to 1.4689 from 1.2061 at 1.5326 in medium to long term.

Daily Pivots: (S1) 1.3291; (P) 1.3315; (R1) 1.3345; More…

USD/CAD dipped briefly to 1.3262 but quickly resumed recent rise to 1.3318. Further rise is expected to 100% projection of 1.2246 to 1.3124 from 1.2526 at 1.3404 next. Nonetheless, break of 1.3262 will indicate short term topping. In that case, intraday bias will be turned to the downside for pull back to 4 hour 55 EMA (now at 1.3187) or below. But we’d expect strong support above 1.2948 to bring rally resumption.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2526 support holds, even in case of deep pull back.