Post Tagged with: "USD/CAD Technical Analysis"

USD/CAD Outlook March 10-14

The Canadian dollar was almost unchanged at the end of the week, closing slightly below the 1.111 line. The upcoming week is very quiet week, with just two releases. Here is an outlook on the major events and an updated technical analysis for USD/CAD.

Canadian Employment Change disappointed on Friday, countering some strong data from Building Permits and Ivey PMI. US numbers were mixed, but Nonfarm Payrolls ended the week on a high note, hitting a three-month high.

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USD/CAD Outlook March 3-7

USD/CAD Outlook March 3-7

The Canadian dollar continues to trade at high levels, but managed to post slight gains against the US dollar last week, as USD/CAD closed at 1.1060. The upcoming week is a busy one, highlighted by Building Permits and Employment Change. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian GDP [&hellip

USD/CAD technical analysis: faces bear threats following the rejection candle print

USD/CAD technical analysis: faces bear threats following the rejection candle print

While USDCAD may be broadly biased to the upside in the long term, it faces bear threats following its rejection candle print on Friday. To prevent this from eventually happening the pair will have to recapture its Feb 21 2014 high at 1.1192 level. This if seen will trigger further bullishness towards the 1.1223 level [&hellip

USD/CAD Outlook Feb. 24-28

USD/CAD Outlook Feb. 24-28

The Canadian dollar lost over a cent this week, as USD/CAD closed just above the 1.11 line. There are three events this week, highlighted by GDP. Here is an outlook on the major events and an updated technical analysis for USD/CAD. The loonie took in on the chin on Friday, as a sharp decline in Retail Sales [&hellip

USDCAD: Triggers Recovery, Eyes More Strength

USDCAD: Triggers Recovery, Eyes More Strength

With USDCAD rallying to close higher on Wednesday, further upside is likely. Resistance seen towards the 1.1172 level, its big psycho level. It may face bear threats at this level but if broken, further upside could occur towards the 1.1200 level. Support comes in at the 1.0900 level, its psycho level. A cut through here [&hellip

USD/CAD Outlook Feb. 17-21

USD/CAD Outlook Feb. 17-21

The Canadian dollar posted modest gains last week, as USD/CAD closed at 1.0974. This week’s key events are Core CPI and Core Retail Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian Manufacturing Sales declined by 0.9% in January, an eight-month low. In the US, Unemployment Claims was above the [&hellip

USD/CAD Leans lower: Risk Points Lower On Further Weakness

USD/CAD Leans lower: Risk Points Lower On Further Weakness

Our outlook on USDCAD remains lower with eyes on further weakness following its continued bearishness. Support lies at the 1.0967 level, its Feb 2014 low where a break will aim at the 1.0900 level, its psycho level. Below here will turn attention to the 1.0850 level. Its daily RSI is bearish and pointing lower supporting [&hellip

USD/CAD Outlook Feb. 10-14

USD/CAD Outlook Feb. 10-14

The Canadian dollar reversed directions last week, posting weekly gains for the first time in 2014. USD/CAD dropped close to a cent, closing the week with slight losses at 1.1030. This week’s key event is Manufacturing Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD. The Canadian dollar flexed some [&hellip

USDCAD: Weakens, Sells Off Below Key Support After Strong Canadian Employment Data

USDCAD: Weakens, Sells Off Below Key Support After Strong Canadian Employment Data

With a strong sell off pushing the pair below the 1.1031/36 levels, its Jan 27/Feb 05 2014 lows, further weakness is envisaged. Support comes in at the 1.0904 level, its Jan 17 2014 low with a cur through here extending weakness towards the 1.0850 level and then the 1.0800 level, its psycho level. Its daily [&hellip

USD/CAD Looks vulnerable in the short term

USD/CAD Looks vulnerable in the short term

With its corrective weakness triggered off the 1.1223 level yet to be over, further decline is the likely scenario. USDCAD may be retaining its long term uptrend but its immediate outlook remains to the downside. Nearby support comes in at the 1.1040 level where a violation will aim at the 1.1000 level. Further down, support [&hellip