USD/CAD looks to be breaking out of a period of consolidation as the US Dollar’s strength may resume. In such a case, we’d expect to see an aggressive move higher toward the 38.2-61.8% Fibonacci Retracement of the January 20-May 3 Range, which could push USD/CAD up to ~1.3307-1.3832. Therefore, if USD/CAD will resume a Bull-Run, a break above 1.3028/3187 will be the first indication that we could be on our way to multi-100 pip rally. After ...
Daily price is on bullish market condition to be located above 200-day SMA/100-day SMA area for the ranging within Fibo support level at 1.3638 and 50.0% Fibo resistance level at 1.4160: "The Canadian Dollar has been a volatile currency across the board. Now, USD/CAD implied volatility over 1-month has reached the highest levels since November 2011. This expected volatility means uncertainty is high even with Oil breaking below the January 20 lows.""Now the focus turns to ...
Talking Points: -USD/CAD Technical Strategy: Stay With Trend Above 1.3456 -USD/CAD Has Been Pushed Higher As WTI Crude Oil Prints 6-Year Lows USD/CAD punched higher to new 11-year highs and looks poised to close in on the 2004 high of 1.3908. There is a lot of doubt surrounding the US Dollar going into December 16, the date the Federal Reserve is presumed to announce a rate hike and lay out the requirements for subsequent hikes. Though it may appear tempting to sell ...
The USD/CAD bulls appear to have lost their grip on the pair after struggling to hang onto the 1.1200 mark. The recent pullback has left a Bearish Engulfing formation in its path, which awaits confirmation from a successive down-day. Validation would warn of a deeper setback towards the psychologically-significant 1.1100 handle. Bearish Engulfing Pattern Warns Of A Deeper Setback ...
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