Usd/cad

[dianajs]

The upward trend seems strong. Expecting it to continue in the next week.

I thought so too, but USD/CAD formed a second bearish shooting star bar on the weekly time frame at the resistance at 1.3800. The possibility for another rally is decreasing, I think.

 

[dianajs]

I opened a short position and set my target 1.3550. Depending on whether it breaks out below that level I may keep the short position open.

 

[dianajs]

It broke out below 1.3550, I think it will continue falling to 1.3500 - 1.3480 at least. I am still keeping the short position open.

 

[arigoldman]

The Canadian dollar posted some gains against the US dollar. I'm expecting the downtrend to continue in the next week.

 

[piphoe]

we''l see where it opens

 

[dianajs]

USD/CAD dropped to 1.3484 today. Depending on a breakout below 1.3480 I think it could continue dropping to 1.3400.

 

[dianajs]

USD/CAD finally rebounded from 1.3385 today. I think it will retrace to 1.3460 - 1.3470, but I don't think this is the end of the downward trend.

 

[dianajs]

The corrective movement to the upside reached all the way to 1.3500 before it ended. The pair started falling after a pair of bearish pin bars formed on the H4. I think it will test the last low at 1.3387.

 

[arigoldman]

Very difficult to trade that pair lately.

 

[dianajs]

Very difficult to trade that pair lately.

It's caught it in a tight range before the US Non-Farm payrolls on Friday. That should be the catalyst that prompts further development.

 

[dianajs]

USD/CAD rebounded from 1.3435 and I think it will rally toward 1.3540, or even toward 1.3560. I don't think there would be much larger development before the NFP.

 

[arigoldman]

USD/CAD slightly lower at 1.35, relatively unchanged after the disappointing US data release.

 

[dianajs]

USD/CAD is very range-bound at the moment. I think another rally toward 1.3540 is possible in the short-term.

 

[fxstrategist]

The USDCAD goes back up to the 1.3500 level and it is currently trying to break that level to the upside. In case of a bullish breakout, the pair may continue towards the 1.3600 level.

 

[arigoldman]

Staying out of this pair at the moment. No clear direction.

 

[dianajs]

Staying out of this pair at the moment. No clear direction.

It's still range-bound but it has fallen to the support at 1.3450. I think that a new rally to 1.3500 - 1.3540 is possible.

 

[dianajs]

The pair has finally broken out below the range and it's essentially in freefall. I think its closest target is at 1.3200 but this is only the beginning of the drop.

 

[dianajs]

USD/CAD broke out below 1.3200 practically effortlessly. I think that the drop might continue all the way to 1.3100 or even 1.3000.

 

[Pat494]

The Usd pairs are looking a bit weak ahead of the Fed announcement at 1.30pm

 

[arigoldman]

USD/CAD continues its bearish trend. Expecting more to the downside today.