Daily Pivots: (S1) 1.2432; (P) 1.2475; (R1) 1.2528; More…

Intraday bias in USD/CAD remains on the upside as rise from 1.2005 low is in progress. The break of medium term falling channel resistance is a sign of bullish trend reversal. Further rise should be seen for 1.2653 resistance for confirmation. On the downside, break of 1.2301 support is needed to indicate short term topping. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2345; (P) 1.2420; (R1) 1.2537; More…

Breach of 1.2485 resistance suggests resumption of whole rebound from 1.2005. Intraday bias is now on the upside for 1.2653 key structural resistance next. Support from 55 day EMA is a sign of near term bullishness for USD/CAD. Hence, for now, break of 1.2301 support is needed to indicate short term topping. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2317; (P) 1.2344; (R1) 1.2370; More…

Range trading continues in USD/CAD and intraday bias remains neutral first. On the upside, firm break of 1.2485 resistance will resume whole rise from 1.2005 for 1.2653 key structural resistance next. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2275; (P) 1.2362; (R1) 1.2416; More…

Intraday bias in USD/CAD remains neutral at this point. On the upside, firm break of 1.2485 resistance will resume whole rise from 1.2005 for 1.2653 key structural resistance next. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

USD/CAD rebounded to 1.2448 last week but reversed from there. Initial bias is turned neutral this week first. On the upside, firm break of 1.2485 resistance will resume whole rise from 1.2005 for 1.2653 key structural resistance next. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

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. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 1.2387; (P) 1.2416; (R1) 1.2468; More…

Intraday bias is USD/CAD stays on the upside for 1.2485 resistance first. Firm break there will resume whole rise from 1.2005 for 1.2653 key structural resistance next. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2360; (P) 1.2392; (R1) 1.2428; More…

USD/CAD’s break of 1.2502 minor resistance suggests that rebound from 1.2005 might be resuming. Intraday bias is back on the upside for 1.2485 resistance first. Break there will target 1.2653 key structural resistance. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2356; (P) 1.2379; (R1) 1.2427; More…

Intraday bias in USD/CAD remains neutral with focus on 1.2402 minor resistance. Break there will argue that rebound from 1.2005 is resuming. Intraday bias will be back on the upside for 1.2485, and break will target 1.2653 key structural resistance. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2304; (P) 1.2326; (R1) 1.2364; More…

Outlook in USD/CAD remains unchanged and intraday bias stays neutral. On the downside, break of 1.2251 support will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005. On the upside, above 1.2402 minor resistance will resume the rebound from 1.2005 towards 1.2653 key structural resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2271; (P) 1.2300; (R1) 1.2329; More…

Intraday bias in USD/CAD remains neutral at this point. On the downside, sustained trading below 4 hour 5 EMA (now at 1.2287) will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005. On the upside, above 1.2402 minor resistance will resume the rebound from 1.2005 towards 1.2653 key structural resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

USD/CAD edged slightly higher to 1.2485 last week but retreated sharply since then. Downside is so far support by 4 hour 55 EMA (now at 1.2288). Initial bias stays neutral this week first. On the downside, sustained trading below 4 hour 5 EMA will argue that rebound from 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005. On the upside, above 1.2402 minor resistance will resume the rebound from 1.2005 towards 1.2653 key structural resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

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. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 1.2290; (P) 1.2316; (R1) 1.2348; More…

Outlook in USD/CAD remains unchanged. Intraday bias stays neutral with focus on 4 hour 55 EMA (now at 1.2287). Sustained trading below there will indicate that rebound form 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005. On the upside, above 1.2402 minor resistance will resume the rebound from 1.2005 towards 1.2653 key structural resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2263; (P) 1.2296; (R1) 1.2339; More…

Intraday bias in USD/CAD remains neutral for the moment, with focus on 4 hour 55 EMA (now at 1.2280). Sustained trading below there will indicate that rebound form 1.2005 has completed after failing medium term channel resistance. Intraday bias will be back on the downside for retesting 1.2005. On the upside, above 1.2485 will resume the rebound to 1.2653 resistance. Firm break there should confirm near term bullish reversal and target 38.2% retracement of 1.4667 to 1.2005 at 1.3022 next.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2271; (P) 1.2337; (R1) 1.2372; More…

Intraday bias in USD/CAD remains neutral as consolidation from 1.2485 is extending. On the upside, above 1.2485 will resume the rise from 1.2005 to 1.2653 resistance. Firm break there should confirm near term bullish reversal and target 38.2% retracement of 1.4667 to 1.2005 at 1.3022 next. However, on the downside, sustained break of 4 hour 55 EMA (now at 1.2278) will bring retest of 1.2005 low instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2315; (P) 1.2401; (R1) 1.2449; More…

A temporary top is formed at 1.2485 in USD/CAD with current retreat, and intraday bias is turned neutral first. On the upside, above 1.2485 will resume the rise from 1.2005 to 1.2653 resistance. Firm break there should confirm near term bullish reversal and target 38.2% retracement of 1.4667 to 1.2005 at 1.3022 next. However, on the downside, sustained break of 4 hour 55 EMA (now at 1.2261) will bring retest of 1.2005 low instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

Daily Pivots: (S1) 1.2378; (P) 1.2430; (R1) 1.2520; More…

Intraday bias in USD/CAD stays on the upside at this point. Rise from 1.2005 support would target 1.2653 resistance first. Firm break there should confirm near term bullish reversal and target 38.2% retracement of 1.4667 to 1.2005 at 1.3022 next. On the downside, below 1.2337 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

USD/CAD’s strong rise last week confirms short term bottoming after strong support from 1.2048/61 support zone. Initial bias stays on the upside this week for 1.2653 resistance first. Firm break there should confirm near term bullish reversal and target 38.2% retracement of 1.4667 to 1.2005 at 1.3022 next. On the downside, below 1.2337 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). It might have completed after hitting 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048. Sustained break of 38.2% retracement of 1.4667 to 1.2005 at 1.3022 will pave the way to 61.8% retracement at 1.3650. Overall, medium term outlook remains neutral at worst with 1.2048/61 support zone intact.

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. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 1.2199; (P) 1.2241; (R1) 1.2326; More…

USD/CAD rises to as high as 1.2377 so far and intraday bias stays on the upside for 1.2653 resistance. Firm break there should confirm near term bullish reversal after drawing support from 1.2048/61 cluster. Next target is 38.2% retracement of 1.4667 to 1.2005 at 1.3022. On the downside, below 1.2261 minor support will turn intraday bias neutral first and bring consolidations, before staging another rally.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’d look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2363 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2199; (P) 1.2241; (R1) 1.2326; More…

USD/CAD’s strong break of 1.2201 resistance finally confirms short term bottoming at 1.2005. It’s also the first sign of near term bullish reversal, after drawing support from 1.2048/61 cluster level. Intraday bias will be turned back to the upside for 1.2363/2653 resistance zone. On the downside, break of 1.2155 minor support will turn intraday bias neutral again first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’d look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2363 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2141; (P) 1.2172; (R1) 1.2215; More…

Intraday bias in USD/CAD remains neutral first, with focus on 1.2201 resistance. Decisive break there will suggest near term bullish reversal, after drawing support from 1.2048/61 cluster level. Intraday bias will be turned back to the upside for 1.2363/2653 resistance zone. On the downside, however, sustained break of 1.2048/61 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’d look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2363 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.