Daily Pivots: (S1) 1.3774; (P) 1.3814; (R1) 1.3837; More…

Intraday bias in USD/CAD remains mildly on the upside for retesting 1.3897. Strong resistance could be seen there to limit upside on first attempt. On the downside, break of 1.3745 will turn bias to the downside to extend the corrective pattern from 1.3897 with another falling leg. In this case, strong support should be seen from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

USD/CAD’s strong rebound last week indicates that pull back from 1.3897 has completed at 1.3627. Initial bias stays mildly on the upside this week for retesting 1.3897 resistance next. Strong resistance could be seen there to limit upside on first attempt. On the downside, break of 1.3745 will turn bias to the downside to extend the corrective pattern from 1.3897 with another falling leg. In this case, strong support should be seen from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3132) holds.

Daily Pivots: (S1) 1.3763; (P) 1.3790; (R1) 1.3833; More…

Intraday bias in USD/CAD stays mildly on the upside, as rebound from 1.3627 is in progress. Further rally should be seen to retest 1.397 resistance. On the downside, below 1.3734 minor support will turn bias back to the downside, to extend the corrective pattern from 1.3897 with another leg. But in this case, strong support should be seen from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

Daily Pivots: (S1) 1.3760; (P) 1.3787; (R1) 1.3820; More…

Intraday bias in USD/CAD remains mildly on the upside at this point. Rebound from 1.3627 is in progress for retesting 1.3897 resistance. On the downside, below 1.3734 minor support will turn bias back to the downside, to extend the corrective pattern from 1.3897 with another leg. But in this case, strong support should be seen from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

Daily Pivots: (S1) 1.3705; (P) 1.3744; (R1) 1.3805; More…

The break of 1.3759 minor resistance argues that pull back from 1.3897 has completed. Intraday bias in USD/CAD is back on the upside for retesting 1.3897 resistance next. In case of another fall, downside should be contained by 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound. However, sustained break of 1.3589 will bring deeper fall to 61.8% retracement at 1.3399 instead.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

Daily Pivots: (S1) 1.3652; (P) 1.3678; (R1) 1.3725; More…

Intraday bias in USD/CAD is turned neutral first with current recovery. While fall from 1.3897 might still extend further, strong support should be seen from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound. On the upside, above 1.3759 minor resistance will bring retest of 1.3897. However, sustained break of 1.3589 will bring deeper fall to 61.8% retracement at 1.3399 instead.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

Daily Pivots: (S1) 1.3620; (P) 1.3690; (R1) 1.3728; More…

Intraday bias in USD/CAD remains on the downside for 8.2% retracement of 1.3091 to 1.3897 at 1.3589. Strong support should be seen there to bring rebound. On the upside, above 1.3759 minor resistance will bring retest of 1.3897. However, sustained break of 1.3589 will bring deeper fall to 61.8% retracement at 1.3399 instead.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

USD/CAD”s deeper decline from 1.3897 last week indicates short term topping. Initial bias remains on the downside this week for 38.2% retracement of 1.3091 to 1.3897 at 1.3589. Strong support should be seen there to bring rebound. On the upside, above 1.3759 minor resistance will bring retest of 1.3897. However, sustained break of 1.3589 will bring deeper fall to 61.8% retracement at 1.3399.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). This will now remain the favored case as long as 1.3378 support holds. However, firm break of 1.3378 will argue that the pattern from 1.3976 is indeed still extending.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3100) holds.

Daily Pivots: (S1) 1.3695; (P) 1.3778; (R1) 1.3820; More…

A short term top should be in place at 1.3897, on bearish divergence condition in 4H MACD. Intraday bias is mildly on the downside. Deeper fall would be seen towards 38.2% retracement of 1.3091 to 1.3897 at 1.3589. But strong support should be seen there to bring rebound. On the upside, above 1.3804 minor resistance will bring retest of 1.3897.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

Daily Pivots: (S1) 1.3832; (P) 1.3865; (R1) 1.3890; More…

USD/CAD retreated quickly after edging higher to 1.3897 and intraday bias is turned neutral again. Downside of retreat should be contained by 1.3739 support to bring another rally. On the upside, above 1.3897 will target 1.3976 resistance. Decisive break there will resume larger up trend to 1.4064 projection level.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

Daily Pivots: (S1) 1.3829; (P) 1.3860; (R1) 1.3907; More…

USD/CAD’s rally resumed after brief retreat and intraday bias is back on the upside. Current rally should target retest on 1.3976. Decisive break there will resume larger up trend to 1.4064 projection level. On the downside, below 1.3812 minor support will turn intraday bias neutral again.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

Daily Pivots: (S1) 1.3802; (P) 1.3838; (R1) 1.3862; More…

Intraday bias in USD/CAD is turned neutral with current retreat and some consolidations could be seen. Downside of retreat should be contained above 1.3659 support to bring another rally. On the upside, above 1.3879 will resume recent rally to retest 1.3976. Decisive break there will resume larger up trend to 1.4064 projection level.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

Daily Pivots: (S1) 1.3820; (P) 1.3850; (R1) 1.3905; More…

Intraday bias in USD/CAD remains on the upside at this point. Further rally should be seen to retest 1.3976. Decisive break there will resume larger up trend to 1.4064 projection level. On the downside, below 1.3794 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

USD/CAD’s rise from 1.3091 resumed last week and surged to as high as 1.3879. Initial bias stays on the upside this week for retesting 1.3976 high. Decisive break there will resume larger up trend to 1.4064 projection level. On the downside, below 1.3794 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3568 support holds.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3100) holds.

Daily Pivots: (S1) 1.3800; (P) 1.3822; (R1) 1.3854; More…

Intraday bias in USD/CAD stays on the upside for further rally to retest 1.3976 high. Decisive break there will resume larger up trend. On the downside, below 1.3750 minor support will turn intraday bias neutral and bring consolidations. But near term outlook will remain bullish as long as 1.3568 support holds.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3750; (P) 1.3780; (R1) 1.3829; More…

Intraday bias in USD/CAD remains on the upside for the moment. Current rise from 1.3091 should target a retest on 1.3976 high. Decisive break there will resume larger up trend. On the downside, below 1.3750 minor support will turn intraday bias neutral and bring consolidations. But near term outlook will remain bullish as long as 1.3568 support holds.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3660; (P) 1.3698; (R1) 1.3729; More…

USD/CAD’s solid break of 1.3784 resistance confirm resumption of the rally from 1.3091. Intraday bias is back on the upside for retesting 1.3976 high. Decisive break there will resume larger up trend. On the downside, below 1.3729 minor support will turn intraday bias neutral and bring consolidations. But near term outlook will remain bullish as long as 1.3568 support holds.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3660; (P) 1.3698; (R1) 1.3729; More…

USD/CAD continues to spiral higher but stays below 1.3784 resistance. Intraday bias remains neutral at this point. Consolidation from 1.3784 could extend further. On the downside, break of 1.3659 support will bring another falling leg to extend the near term corrective pattern from 1.3784. On the upside, decisive break of 1.3784 resistance will resume the rise from 1.3091 to retest 1.3976 high.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3660; (P) 1.3698; (R1) 1.3729; More….

Intraday bias in USD/CAD remains neutral for the moment. Consolidation from 1.3784 could extend further. On the upside, decisive break of 1.3784 resistance will resume the rise from 1.3091 to retest 1.3976 high. On the downside, however, break of 1.3615 support will bring another falling leg to extend the near term corrective pattern from 1.3784.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3679; (P) 1.3706; (R1) 1.3743; More….

Intraday bias in USD/CAD remains neutral at this point, and consolidation from 1.3784 could extend further. On the upside, decisive break of 1.3784 resistance will resume the rise from 1.3091 to retest 1.3976 high. On the downside, however, break of 1.3615 support will bring another falling leg to extend the near term corrective pattern from 1.3784.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.