Daily Pivots: (S1) 1.2662; (P) 1.2692; (R1) 1.2724; More….

USD/CAD’s rebound from 1.2412 short term bottom is still in progress. Intraday bias remains on the upside for 38.2% retracement of 1.3793 to 1.2412 at 1.2940. Considering the the pair is losing upside momentum, we’d expect upside to be limited by 1.2940 to complete the correction. On the downside, below 1.2552 minor support will turn bias back to the downside for retesting 1.2412 low first.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. A short term bottom is formed at 1.2412 after hitting 61.8% projection of 1.4689 to 1.2460 from 1.3793 at 1.2415. But there is no sign of completion of the correction yet. Break of 1.2412 will target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Meanwhile, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

Daily Pivots: (S1) 1.2643; (P) 1.2674; (R1) 1.2698; More….

Intraday bias in USD/CAD remains on the upside as rebound from 1.2412 short term bottom continues. Such rebound should be corrective whole fall from 1.3793. Further rise would be seen back to 38.2% retracement of 1.3793 to 1.2412 at 1.2940. On the downside, break of 1.2552 minor support will indicate completion of the rebound. In such case, intraday bias will be turned back to the downside for 1.2412 low.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. A short term bottom is formed at 1.2412 after hitting 61.8% projection of 1.4689 to 1.2460 from 1.3793 at 1.2415. But there is no sign of completion of the correction yet. Break of 1.2412 will target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Meanwhile, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

Daily Pivots: (S1) 1.2633; (P) 1.2673; (R1) 1.2719; More….

Intraday bias in USD/CAD remains on the upside as rebound from 1.2412 short term bottom continues. Such rebound should be corrective whole fall from 1.3793. Further rise would be seen back to 38.2% retracement of 1.3793 to 1.2412 at 1.2940. On the downside, break of 1.2552 minor support will indicate completion of the rebound. In such case, intraday bias will be turned back to the downside for 1.2412 low.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. A short term bottom is formed at 1.2412 after hitting 61.8% projection of 1.4689 to 1.2460 from 1.3793 at 1.2415. But there is no sign of completion of the correction yet. Break of 1.2412 will target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Meanwhile, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

Daily Pivots: (S1) 1.2574; (P) 1.2621; (R1) 1.2691; More….

Intraday bias in USD/CAD remains on the upside for the moment. Current rebound from 1.2412 could be correcting whole fall from 1.3793. Further rise would be seen back to 38.2% retracement of 1.3793 to 1.2412 at 1.2940. On the downside, break of 1.2552 minor support will indicate completion of the rebound. In such case, intraday bias will be turned back to the downside for 1.2412 low.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. A short term bottom is formed at 1.2412 after hitting 61.8% projection of 1.4689 to 1.2460 from 1.3793 at 1.2415. But there is no sign of completion of the correction yet. Break of 1.2412 will target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Meanwhile, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

USD/CAD’s rebound last week confirmed short term bottoming at 1.2412. Initial bias stays on the upside this week. Current rebound could be corrective whole decline from 1.3793 and might target 38.2% retracement of 1.3793 to 1.2412 at 1.2940. On the downside, break of 1.2552 minor support will indicate completion of the rebound. In such case, intraday bias will be turned back to the downside for 1.2412 low.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. A short term bottom is formed at 1.2412 after hitting 61.8% projection of 1.4689 to 1.2460 from 1.3793 at 1.2415. But there is no sign of completion of the correction yet. Break of 1.2412 will target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. Meanwhile, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

In the longer term picture, rise from 0.9056 (2007 low) is viewed as a long term up trend. It’s taking a breath after hitting 1.4689. But such rise is expected to resume later to test 1.6196 down the road. But firm break of 50% retracement of 0.9406 to 1.4869 at 1.2048 will raise doubt over this view.

Daily Pivots: (S1) 1.2553; (P) 1.2585; (R1) 1.2619; More….

Intraday bias in USD/CAD is turned neutral with 4 hour MACD crossed below signal line. Consolidation from 1.2412 short term bottom might extend. But in case of another rise, upside should be limited by 38.2% retracement of 1.3346 to 1.2412 at 1.2769 to bring fall resumption. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048. However, sustained break of 1.2769 will bring stronger rebound back to 55 day EMA (now at 1.2927) before resuming the larger fall.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2536; (P) 1.2564; (R1) 1.2597; More….

Intraday bias in USD/CAD remains mildly on the upside as correction from 1.2412 short term bottom continues. Further rise would be seen to 38.2% retracement of 1.3346 to 1.2412 at 1.2769. At this point, we’d expect upside to be limited there to bring fall resumption. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2474; (P) 1.2514; (R1) 1.2577; More….

Break of 1.2575 minor resistance suggests that correction from 1.2412 short term bottom is extending higher. Intraday bias is back on the upside for 38.2% retracement of 1.3346 to 1.2412 at 1.2769. At this point, we’d expect upside to be limited there to bring fall resumption. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2426; (P) 1.2477; (R1) 1.2528; More….

USD/CAD is staying in consolidation above 1.2412 and intraday bias remains neutral first. On the upside, above 1.2575 minor resistance will extend the rebound from 1.2412 and target 38.2% retracement of 1.3346 to 1.2412 at 1.2769. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2378; (P) 1.2473; (R1) 1.2527; More….

Intraday bias in USD/CAD remains neutral for the moment. On the upside, above 1.2575 will extend the rebound from 1.2412 and target 38.2% retracement of 1.3346 to 1.2412 at 1.2769 first. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

USD/CAD’s decline continued last week and reached as low as 1.2412, breaking 1.2460 low. Subsequent recovery was weak and limited below 4 hour 55 EMA. Nonetheless, as 1.2412 holds, initial bias is neutral this week first. On the upside, above 1.2575 will extend the rebound from 1.2412 and target 38.2% retracement of 1.3346 to 1.2412 at 1.2769 first. On the downside, break of 1.2412 will extend recent fall from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

In the longer term picture, rise from 0.9056 (2007 low) is viewed as a long term up trend. It’s taking a breath after hitting 1.4689. But such rise expected to resume later to test 1.6196 down the road. But firm break of 50% retracement of 0.9406 to 1.4869 at 1.2048 will raise doubt over this view.

Daily Pivots: (S1) 1.2452; (P) 1.2513; (R1) 1.2614; More….

Break of 1.2543 minor resistance is seen as an indication of short term bottoming, on bullish convergence condition in 4 hour MACD, after drawing support from 1.2460 key level. Intraday bias is turned to the upside for 38.2% retracement of 1.3346 to 1.2412 at 1.2769 first. On the downside, through, sustained trading below 1.2460 will extend the whole decline from 1.3793 to next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2391; (P) 1.2467; (R1) 1.2521; More….

USD/CAD’s decline is still in progress and took out 1.2460 key support level. We’d stay cautious on rebound on bullish convergence condition in 4 hour MACD, as well as deep oversold condition in daily RSI. But for the moment, further fall is expected as long as 1.2543 minor resistance holds. Sustained trading below 1.2460 will target next key fibonacci level at 1.2048. On the upside, break of 1.2543 will indicate short term bottoming and bring rebound.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2481; (P) 1.2506; (R1) 1.2532; More….

No change in USD/CAD’s outlook. While deeper fall could be seen, considering bullish convergence condition in 4 hour MACD, we’ll be cautious on strong support from 1.2460 key support to contain downside and bring rebound. On the upside, break of 1.2608 minor resistance will indicate short term bottoming and turn bias back to the upside for 1.2968 support turned resistance. However, firm break of 1.2460 will target next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2478; (P) 1.2514; (R1) 1.2546; More….

Intraday bias in USD/CAD remains on the downside for 1.2460 key support level. Considering bullish convergence condition in 4 hour MACD, we’ll be cautious on strong support from there to contain downside and bring rebound. On the upside, break of 1.2608 minor resistance will indicate short term bottoming and turn bias back to the upside for 1.2968 support turned resistance. However, firm break of 1.2460 will target next key fibonacci level at 1.2048.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2505; (P) 1.2557; (R1) 1.2591; More….

Intraday bias in USD/CAD remains on the downside for 1.2460 key support level. Considering bullish convergence condition in 4 hour MACD, we’ll be cautious on strong support from there to contain downside and bring rebound. On the upside, break of 1.2700 resistance will indicate short term bottoming and turn bias back to the upside for 1.2968 support turned resistance.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

USD/CAD continued to lose downside momentum last week. But after all, the down trend still extended. Initial bias stays on the downside this week for 1.2460 low. Considering bullish convergence condition in 4 hour MACD, we’ll be cautious on strong support from there to contain downside and bring rebound. On the upside, break of 1.2700 resistance will indicate short term bottoming and turn bias back to the upside for 1.2968 support turned resistance.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

In the longer term picture, rise from 0.9056 (2007 low) is viewed as a long term up trend. It’s taking a breath after hitting 1.4689. But such rise expected to resume later to test 1.6196 down the road. But firm break of 50% retracement of 0.9406 to 1.4869 at 1.2048 will raise doubt over this view.

Daily Pivots: (S1) 1.2541; (P) 1.2591; (R1) 1.2641; More….

With 1.2700 minor resistance intact, intraday bias stays on the downside. Current fall from 1.3793 should extend to retest 1.2460 low. Meanwhile, considering bullish convergence condition in 4 hour MACD, break of 1.2700 will indicate short term bottoming In such case, there will be lengthier consolidation before staging another decline.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2570; (P) 1.2611; (R1) 1.2644; More….

With 1.2700 minor resistance intact, intraday bias stays on the downside. Current fall from 1.3793 should extend to retest 1.2460 low. Meanwhile, considering bullish convergence condition in 4 hour MACD, break of 1.2700 will indicate short term bottoming In such case, there will be lengthier consolidation before staging another decline.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.

Daily Pivots: (S1) 1.2571; (P) 1.2636; (R1) 1.2692; More….

USD/CAD continues to lose downside momentum as seen in 4 hour MACD. But there is no sign of bottoming yet. Intraday bias stays on the downside. Current decline from 1.3793 should target a test on 1.2460 low next. Meanwhile, considering bullish convergence condition in 4 hour MACD, break of 1.2770 will indicate short term bottoming In such case, there will be lengthier consolidation before staging another decline.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Fall from 1.3793 is seen as the third leg and should target 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.