Usd/cad

[dianajs]

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

The pair rebounded from 1.3160 and it may retrace back to 1.3270 - 1.3280, but I too think that the trend remains bearish and this is not the end of the drop.

 

[Pat494]

Why do you think it is bearish ?
Looks bullish to me.

 

[csc2009]

The pair rebounded from 1.3160 and it may retrace back to 1.3270 - 1.3280, but I too think that the trend remains bearish and this is not the end of the drop.

I agree, risk remains on the downside.

 

[dianajs]

The pair rebounded from 1.3200 after forming a pin bar on the H4 time frame. I think it will rally back to 1.3300 as part of the correction above the support at 1.3160 - 1.3200.

 

[dianajs]

I opened a long position at 1.3230. For the moment my target is at 1.3300, depending on how it develops there I may keep it open.

 

[dianajs]

I closed my long position once the pairing reached 1.3300, I think it is forming a consolidation channel between 1.3180 and 1.3300.

 

[dianajs]

USD/CAD fell to 1.3246 after a rally to 1.3350. The pair remains bearish and I think it will reach 1.3200 soon.

 

[arigoldman]

Currently out of the trend channel, staying away from this pair for now.

 

[csc2009]

Correction movement continues, CAD remain under pressure. Support level can be found around 1.3160.

 

[dianajs]

USD/CAD rebounded from 1.3210 but so far remains very range-bound. I think I will refrain from opening new positions for the moment.

 

[dianajs]

I think that the current drop is just the beginning of the move to the downside and its closest target is around 1.3030 - 1.3000.

 

[arigoldman]

USD/CAD broke the support at 1.31. Next level would be 1.2915.

 

[fxstrategist]

Usdcad

The USDCAD confirms a breakdown below the 1.3000 level and it may be heading towards the 1.2900 level, especially if the 55 day EMA completes a cross below the 200 day EMA around the 1.3344 level.

 

[gerryg]

What do you think about oil impact on Cad? It will still experience high bearish pressure from it, so I think it will be mainly traded to the downside now.

 

[csc2009]

Weak US dollar and the recovery in oil prices, another bad week to come for the pair.
The pair has already broke below critical support 1.3000, further delcine could be triggered easily.

 

[gerryg]

Weak US dollar and the recovery in oil prices, another bad week to come for the pair.
The pair has already broke below critical support 1.3000, further delcine could be triggered easily.

Oil prices will hit the sentiments on pair badly expect it to decline further.

 

[arigoldman]

I was expecting that the 1.30 level would hold. More potential to the downside imo.

 

[csc2009]

I was expecting that the 1.30 level would hold. More potential to the downside imo.

The pair broke 1.29 level, I'm expecting some correction movement before further downside.

 

[dianajs]

I think so too. It rebounded from 1.2860 and considering how oversold it is it could rally to 1.2980.

 

[arigoldman]

Expecting the move to the downside to end soon. The US dollar appears to be gaining momentum.