USD/CAD edged higher to 1.3329 last week but failed to sustained above 1.3327 key resistance and retreated. Initial bias is mildly on the downside for retreat to 55 day EMA (now at 1.3180). But downside should be contained above 1.3104 resistance turned support to bring rise resumption. On the upside, sustained break of 1.3327 should confirm completion of consolidation pattern from 1.3664. Further rise should be seen to retest 1.3664 high.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high. However, break of 1.3104 resistance turned support will extend the corrective with another fall through 1.2951 before completion.

In the longer term picture, outlook remains unchanged that price actions from 1.4689 (2016 high) are forming a corrective pattern. As long as 1.2061 support holds. Up trend from 0.9406 (2011 low) is in favor to resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3248; (P) 1.3260; (R1) 1.3278; More….

Intraday bias in USD/CAD remains mildly on the downside. Corrective fall from 1.3329 short term top could target 55 day EMA (now at 1.3183). But downside should be contained above 1.3104 resistance turned support to bring another rally. On the upside, sustained break of 1.3327 should confirm completion of consolidation pattern from 1.3664. Further rise should be seen to retest 1.3664 high.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3229; (P) 1.3262; (R1) 1.3289; More….

Intraday bias in USD/CAD remains mildly on the downside for the moment. Corrective fall from 1.3329 short term top could target 55 day EMA (now at 1.3180). But downside should be contained above 1.3104 resistance turned support to bring another rally. On the upside, sustained break of 1.3327 should confirm completion of consolidation pattern from 1.3664. Further rise should be seen to retest 1.3664 high.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3270; (P) 1.3295; (R1) 1.3313; More….

USD/CAD’s break of 1.3262 minor support suggests short term topping at 1.3329, after failing to sustain above 1.3327 resistance. Intraday bias is turned back to the downside for 55 day EMA (now at 1.3177). But downside should be contained above 1.3104 resistance turned support to bring another rally. On the upside, sustained break of 1.3327 should confirm completion of consolidation pattern from 1.3664. Further rise should be seen to retest 1.3664 high.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3270; (P) 1.3295; (R1) 1.3313; More….

Intraday bias in USD/CAD is turned neutral with current retreat. Focus stays on 1.3327 key resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Sustained break of 1.3327 resistance should confirm this bullish case and pave the way for retest of 1.3664 high. However, break of 1.3262 will indicate short term topping and bring deeper pull back to 55 day EMA (now at 1.3178).

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3296; (P) 1.3312; (R1) 1.3336; More….

Intraday bias in USD/CAD stays on the upside with focus on 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Sustained break of 1.3327 resistance should confirm this bullish case and pave the way for retest of 1.3664 high. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidation first, before staging another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3285; (P) 1.3302; (R1) 1.3325; More….

USD/CAD is losing some upside momentum as seen in 4 hour MACD. But intraday bias stays on the upside with 1.3262 minor support intact. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Sustained break of 1.3327 resistance should confirm this bullish case and pave the way for retest of 1.3664 high. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidation first, before staging another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

USD/CAD’s rise from 1.2951 extended higher last week and outlook is unchanged. Corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Initial bias remains on the upside this week for 1.3327. Firm break there should confirm this bullish case and pave the way for retest of 1.3664 high. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidation first, before staging another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

In the longer term picture, outlook remains unchanged that price actions from 1.4689 (2016 high) are forming a corrective pattern. As long as 1.2061 support holds. Up trend from 0.9406 (2011 low) is in favor to resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3267; (P) 1.3288; (R1) 1.3306; More….

USD/CAD’s rally resumes after brief consolidation and intraday bias is back on the upside for 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3262 minor support will turn intraday bias neutral for consolidations again.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3262; (P) 1.3283; (R1) 1.3302; More….

Intraday bias in USD/CAD is turned neutral first, with 4 hour MACD crossed below signal line. Focus stays on 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. For now, this will remain the preferred case as long as 1.3104 resistance turned support holds.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3261; (P) 1.3281; (R1) 1.3299; More….

Intraday bias in USD/CAD remains on the upside for 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3231 minor support will turn intraday bias neutral first. But retreat should be contained above 1.3104 resistance turned support to bring another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3245; (P) 1.3275; (R1) 1.3320; More….

USD/CAD’s rally is still in progress and intraday bias remains on the upside for 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3231 minor support will turn intraday bias neutral first. But retreat should be contained above 1.3104 resistance turned support to bring another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.3186; (P) 1.3206; (R1) 1.3222; More….

Intraday bias in USD/CAD remains on the upside for the moment. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Further rally would be seen to 1.3327 resistance first. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3190 minor support will turn intraday bias neutral first. But retreat should be contained above 1.3104 resistance turned support to bring another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

USD/CAD’s rise from 1.2951 continued last week and hit as high as 1.3253. Initial bias remains on the upside this week. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Further rally would be seen to 1.3327 resistance first. Decisive break of 1.3327 should confirm this bullish case. On the downside, below 1.3190 minor support will turn intraday bias neutral first. But retreat should be contained above 1.3104 resistance turned support to bring another rally.

In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.

In the longer term picture, outlook remains unchanged that price actions from 1.4689 (2016 high) are forming a corrective pattern. As long as 1.2061 support holds. Up trend from 0.9406 (2011 low) is in favor to resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3186; (P) 1.3206; (R1) 1.3222; More….

Intraday bias in USD/CAD remains on the upside for 1.3327 resistance. As noted before, we’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this case. On the downside, break of 1.3117 is needed to indicate completion of the current rally. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall cannot be ruled out, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.

Daily Pivots: (S1) 1.3168; (P) 1.3189; (R1) 1.3222; More….

USD/CAD’s rally resumes after brief consolidation and intraday bias is back on the upside. Current rise from 1.2951 should target 1.3327 resistance next. As noted before, we’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this case. On the downside, break of 1.3117 is needed to indicate completion of the current rally. Otherwise, outlook will stay cautiously bullish in case of retreat.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall cannot be ruled out, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.

Daily Pivots: (S1) 1.3138; (P) 1.3172; (R1) 1.3189; More….

A temporary top is formed at 1.3205 and intraday bias in USD/CAD is turned neutral first. Downside of consolidation should be contained by 1.3104 resistance turned support to bring another rally. As noted before, we’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Above 1.3205 will target 1.3327 resistance to confirm this bullish view. However, break of 1.3104 will turn focus back to 1.2951 low instead.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall cannot be ruled out, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.

Daily Pivots: (S1) 1.3161; (P) 1.3181; (R1) 1.3213; More….

Intraday bias in USD/CAD remains on the upside as this point and further rise should be seen to 1.3327 resistance. We’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Break of 1.3327 should confirm this bullish view and pave the way for a retest on 1.3664 high. In any case, near term outlook will remain bullish as long as 1.3117 support holds, in case of retreat.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall cannot be ruled out, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.

Daily Pivots: (S1) 1.3127; (P) 1.3140; (R1) 1.3161; More….

USD/CAD’s rally resumed after brief consolidation and intraday bias is back on the upside for 1.3327 resistance. We’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Break of 1.3327 should confirm this bullish view and pave the way for a retest on 1.3664 high. In any case, near term outlook will remain bullish as long as 1.3104 resistance turned support holds, in case of retreat.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall cannot be ruled out, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.

Daily Pivots: (S1) 1.3127; (P) 1.3140; (R1) 1.3161; More….

Intraday bias in USD/CAD remains neutral for consolidation below 1.3171 temporary top. We’re favoring the case that corrective pattern from 1.3664 has completed as a triangle at 1.2951. Further rise is expected as long as 1.3036 support holds. Above 1.3171 will target 1.3327 resistance to confirm this bullish view. Nevertheless, break of 1.3036 will dampen this view and bring retest of 1.2951 low.

In the bigger picture, rise from 1.2061 (2017 low) could have completed at 1.3664, after failing 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685. However, structure of price actions from 1.3664 argues that it’s probably just a corrective move. Hence, while further fall is expected, downside should be contained by 50% retracement of 1.2061 to 1.3664 at 1.2863.