USD/CAD edged lower to 1.2363 last week but recovered after hitting 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. Initial bias remains neutral this week for some consolidations. But outlook will stay bearish as long as 1.2742 resistance holds. On the downside, break of 1.2363 will resume larger down trend to 100% projection at 1.2079.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2392; (P) 1.2460; (R1) 1.2554; More….

USD/CAD recovered after dropping to 1.2363, hitting 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. intraday bias is turned neutral for some consolidation first. Outlook will remain bearish as long as 1.2742 resistance holds. Break of 1.2363 will resume the lager down trend, for 100% projection at 1.2079.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2371; (P) 1.2432; (R1) 1.2463; More….

USD/CAD’s decline continued and hit as low as 1.2376 so far. 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385 is already met and there is no sign of bottoming yet. Intraday bias stays on the downside first. Sustained break of 1.2385 will page the way to 100% projection at 1.2079. On the upside, above 1.2493 minor resistance will turn intraday bias neutral and bring consolidations. But outlook will remain bearish as long as 1.2742 resistance holds.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2421; (P) 1.2460; (R1) 1.2485; More….

Intraday bias in USD/CD remains on the downside at point as down trend form 1.4667 is resuming. Further fall should be seen to 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. Break will target 100% projection at 1.2079. On the upside, above 1.2519 minor resistance will turn intraday bias neutral first. But break of 1.2742 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2438; (P) 1.2475; (R1) 1.2510; More….

Intraday bias in USD/CAD remains on the downside for the moment. Down trend from 1.4667 is resuming. Next target is 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. Break will target 100% projection at 1.2079. On the upside, break of 1.2742 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2435; (P) 1.2504; (R1) 1.2546; More….

Intraday bias in USD/CAD remains on the downside at this point. Down trend from 1.4667 is resuming. Next target is 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. Break will target 100% projection at 1.2079. On the upside, break of 1.2742 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

USD/CAD’s late break of 1.2466 support suggests that down trend from 1.4667 is resuming. Initial bias is now on the downside this week for 61.8% projection of 1.3389 to 1.2588 from 1.2880 at 1.2385. Break will target 100% projection at 1.2079. On the upside, break of 1.2742 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2497; (P) 1.2561; (R1) 1.2602; More….

Outlook in unchanged in USD/CAD as rebound from 1.2466 should be completed at 1.2742. Intraday bias stays on the downside for retesting 1.2466. Firm break there will resume larger down trend from 1.4667. For now, another rebound cannot be ruled out as corrective pattern from 1.2466 could still extend. But outlook will stay bearish as long as 1.2880 resistance holds.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2497; (P) 1.2561; (R1) 1.2602; More….

Break of 1.2574 minor support suggests that USD/CAD’s recovery from 1.2466 has completed. Intraday bias is back on the downside for retesting 1.2466. Break there will resume larger down trend from 1.4667. For now, another rebound cannot be ruled out as corrective pattern from 1.2466 could still extend. But outlook will stay bearish as long as 1.2880 resistance holds.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2592; (P) 1.2637; (R1) 1.2665; More….

Outlook in USD/CAD remains unchanged and intraday bias stays neutral first. Stronger rebound through 1.2742 cannot be ruled out. But overall, outlook will stay bearish as long as 1.2880 resistance holds. Below 1.2574 minor support will bring retest of 1.2466 low first. Break there will resume larger down trend from 1.4667. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2593; (P) 1.2640; (R1) 1.2688; More….

Intraday bias in USD/CAD remains neutral and some more sideway trading could be seen. Stronger rebound through 1.2742 cannot be ruled out. But overall, outlook will stay bearish as long as 1.2880 resistance holds. Below 1.2574 minor support will bring retest of 1.2466 low first. Break there will resume larger down trend from 1.4667. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2626; (P) 1.2663; (R1) 1.2703; More….

Range trading continues in USD/CAD and intraday bias remains neutral first. Overall, outlook will stay bearish as long as 1.2880 resistance holds. Below 1.2574 minor support will bring retest of 1.2466 low first. Break there will resume larger down trend from 1.4667. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2620; (P) 1.2678; (R1) 1.2711; More….

Intraday bias in USD/CAD remains neutral for the moment and more sideway trading could be seen. Overall, outlook will stay bearish as long as 1.2880 resistance holds. Below 1.2574 minor support will bring retest of 1.2466 low first. Break there will resume larger down trend from 1.4667. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

USD/CAD rebound to 1.2742 last week but turned sideway since then. Initial bias remains neutral this week first. Overall, outlook will stay bearish as long as 1.2880 resistance holds. Below 1.2574 minor support will bring retest of 1.2466 low first. Break there will resume larger down trend from 1.4667. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2597; (P) 1.2646; (R1) 1.2716; More….

Intraday bias in USD/CAD remains neutral first. Break of 1.2742 will resume the rebound from 1.2466. But still, outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2574 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2612; (P) 1.2636; (R1) 1.2678; More….

Outlook in USD/CAD is unchanged and intraday bias remains neutral for the moment. Rebound from 1.2446 could still extend with another rise through 1.2742. But overall, outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2593; (P) 1.2646; (R1) 1.2691; More….

Intraday bias in USD/CAD remains neutral for the moment. Rebound from 1.2446 could still extend with another rise through 1.2742. But overall, outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2609; (P) 1.2674; (R1) 1.2707; More….

Intraday bias in USD/CAD is turned neutral with 4 hour MACD crossed below signal line. Rebound from 1.2446 might still extend higher. But overall outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2632; (P) 1.2687; (R1) 1.2787; More….

USD/CAD’s rebound from 1.2466 could extend higher. But still, overall outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

USD/CAD dropped further to 1.2466 last week but formed a short term bottom there and rebounded. Further rise could be seen this week. But overall outlook will remain bearish as long as 1.2880 resistance holds. Below 1.2586 will turn bias to the downside and bring retest of 1.2466 low first. However, sustained break of 1.2880 will argue that fall from 1.3389 has completed and bring stronger rise to 1.2994 support turned resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.2994 support turned resistance resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.