Post Tagged with: "USD/CAD Technical Analysis"

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 sent the currency sharply lower. US releases continues to sputter, as the Philly Fed Manufacturing Index and Existing Home Sales slipped badly in January.

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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

USD/CAD: Trading the Canadian GDP

USD/CAD: Trading the Canadian GDP

Canadian GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Friday at 13:30 [&hellip

USDCAD: Bullish, Tests Key Resistance

USDCAD: Bullish, Tests Key Resistance

USDCAD: With the pair ending its one–day weakness and strengthening for two days in a role, further bullish offensive is envisaged. However, it will have to break and hold above the 1.1172 level, its Jan 23’2014 high to trigger that trend. A turn above here will activate additional strength towards the 1.1200 level where a [&hellip

USD/CAD Outlook Jan. 27-31

USD/CAD Outlook Jan. 27-31

The Canadian dollar is having a miserable January, as the currency headed downwards for the third straight week. USD/CAD gained over one cent on the week, closing at 1.1086. This week’s only event is GDP. Here is an outlook on the major events and an updated technical analysis for USD/CAD. In the US, Unemployment Claims had another good week, beating the estimate. In Canada, CPI [&hellip