USD/CAD Analysis - page 52

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USD/CAD bounced off from 1.3175 and fell back below 1.3130. The move to the downside may continue, next target is likely at 1.3100, which is the (MA)89 indicator on the four-hour time-frame.
 
The USDCAD drops below the 1.3100 level and below the 55 day EMA as oil rallied and supported the Looney. The 1.3000 level may act as support and the 1.3200 level may still act as resistance.
 
The USD/CAD depreciated a lot today. Good support level is seen at 1.2740.
 
USD/CAD is testing 1.3000 which from a resistance has become a support level. A breakout below it could lead to a further move to the downside towards 1.2900.
 
Alexei Panfilov:
very bad

Oh my.

How far do you think it's gonna go ?

 

USD/CAD bottomed at 1.2975 earlier today, but now is hovering around 1.3000 after US data and Trump’s comments. Immediate resistance is provided by the 23.6 FiBO OF LATEST June to September decline at 1.3000.

 
It broke out above 1.3000 again and it will likely break out above 1.3100 too. Next week the sideways consolidation will probably continue.
 
The sideways consolidation does continue, the pair is back below 1.3000 and it is testing the support at 1.2980. A breakout below that level could lead to a further move to the downside towards 1.2800.
 
After the bearish bounce from the 1.3200 level, the USDCAD falls below the 1.3000 level, but the 200 day EMA may act as support. Below the 200 day EMA, the 55 week EMA at the 1.2926 level may act as support. To the upside, the 55 day EMA or the 1.3100 level may act as resistance.
 
I think usdcad will fall down. Expected price action in the ema 200, demand zone at 1.288, and also confluence of the up trend. Trade safe.
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