USD/CAD Analysis - page 59

New comment
 
The consolidation will likely last until the American fundamentals tomorrow, before then there likely won't be any major changes.
 


Caddy played ball & tested the lows but was stopped in its tracks around 1.3070. 

The bulls are starting to take charge but there is work to be done. Friday's high is the 1st obstacle before aiming for last week's high.

 
Not much has happened lately to the pair. I'm neutral to positive on the pair.
 
USD/CAD continues consolidating despite the fundamentals yesterday, next target is likely around 1.3150.
 


The caddy has done well to make new highs for this week but it fell back before hitting last weeks high. Since it bounced back before last weeks low, it remains bullish and last weeks high is still threatened.

Bullish bias with a stop below 1.3075

 

The sideways consolidation is getting tighter, next target will likely be around 1.3140.

.

 

End of day 8/nov/18



End of day chart shows how the loonie played out as expected. It remained above the 1.3075 and after the FOMC it went on its bullish way to touch my resistance line sitting at 1.3180

That was a good rally to take out last weeks high and set a new 2 month high.

 

Day start S&R levels for 9/nov/18



The caddy is still bullish but buyers dont seem to have much drive. Volume starting to build up just below 1.3130

Better support is available @ 1.3100 and 1.3050

On the top side the sellers are sitting @ yesterdays high 1.3180 with more volume building up @  1.3200 &  1.3215 

 
The Canadian Dollar loses strength as the price of oil drops, due to the negative correlation between those two instruments. On the daily chart of the USDCAD we can see that the US Dollar has been beating the Looney and the pair may reach the 1.3200 level where it may find some resistance. To the downside, the 1.3100 level could act as support in case of a bearish pullback.
 
USD/CAD is very bullish and broke out above 1.3200. Next target will likely be around 1.3300.
1...5253545556575859606162
New comment