USD/CAD Analysis - page 43

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USD/CAD looks tasty to go long.

 
The pair is consolidating below the lower bound of latest range and the short term outlook remains relatively neutral.
 
Price moved up a bit, hopefully it will continue to go higher.
 
Better than expected data pushed the pair above 61.8% Fibo and the top of the weekly range. Possible next target is 1.2415.
 

The US dollar pushed higher against the Canadian dollar today. Currently the pair is testing yesterday’s high and according to indicators on the H4 bulls will try to regain the 1.26 level.

 
Nice move to the upside!
 
USD/CAD would make a good short at 1.28.
 
The pair bounced from the daily low and despite the relatively good upward momentum, I doubt that will reach 1.2630
 
The pair is showing good upwards strength and bulls are eyeing 1.27.
 
The USDCAD has broken above the 200 day EMA at the 1.2681 level, but it comes back down as the price of oil rallies on the lower than expected oil inventories in the US. The 200 day EMA may act as support, but the pair may break below that level if oil keeps rising.
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