Usd/cad

[ReneLH]

Just 2 cent. I think it will be cont of the downtrend and moving to the top border of the trend. Price level 1.29850 is the first target. If it will be falling the first target is 1.29090. And in this case it will comblete of the head and shoulders.

 

[dianajs]

That wasn't the end of the move the downside, thankfully, because the pair found resistance at 1.3015, which is the middle line of the Bollinger Bands indicator on the four-hour time frame and started falling again. For the moment it's testing the support at 1.2880 and I think that if it breaks below that level next target will be 1.2700.

 

[arigoldman]

Bearish on this pair.

 

[dianajs]

I agree, the pair is still very bearish and it broke below 1.2880. The closest target is 1.2800, but I think it will fall lower than that.

 

[fxstrategist]

Usdcad

The USDCAD breaks below the 1.2900 level and if the bearish momentum continues it may try to go and visit the 1.2655 level.

 

[dianajs]

I admit I wasn't expecting this move to the upside today, nor did I see any signals for it before it started. The only indication was that it was struggling to break below 1.2850.
Now the question is how much higher it will climb.The first target is 1.3000, I think.

 

[tomorton]

I'm short this pair. But after a holiday weekend, that's often what happens, the US traders come in buying. Getting short was in accord with my TA, there's still nothing on the chart to indicate long would be better.

 

[dianajs]

I opened a long position yesterday and I am still keeping it open, because the pair has formed a new high above 1.3050 and I think the next target will be 1.3080 - 1.3090.

 

[dianajs]

I managed to close that long position on time, thankfully. USD/CAD is moving in a tight range at the moment and I think next target is 1.2840 - 1.2830.

 

[dianajs]

The pair is stuck in a very tight range while everyone are waiting for the US Change in Non-farm Payrolls announcement. Let's hope it will cause more than a whipsaw.

 

[dianajs]

USD/CAD is still moving to the upside and it will soon test the resistance at 1.3100. I think that if breaks out above that level it will continue climbing towards the previous high at 1.3187.

 

[fxstrategist]

Usdcad

The USDCAD stays oscillating around the 1.3100 level with the 1.3200 level as resistance and the 1.3000 as support.

 

[dianajs]

The pair found resistance at 1.3140 and bounced off that level. I think it may continue falling towards 1.2950 - 1.2940 but tomorrow the Bank of Canada will announce its interest rate statement, so it also depends on its effect on the pair.

 

[dianajs]

The BoC rate decision announcement today caused a 100 pips drop and USD/CAD is back to testing 1.2950. I think that if there's a breakout below that level it will continue dropping towards 1.2900 - 1.2870.

 

[dianajs]

The pair has almost reached 1.2900. I think that if there's a breakout below 1.2870 the pair will continue falling towards 1.2800.

 

[Robbe]

The asset is flat now. I’ll set pending orders nearby the upper bound and bottom line and will see which one is gonna work.

 

[dianajs]

USD/CAD found some support at 1.2855 and bounced off of it after forming a double bottom and a spinning top candlestick on the one-hour time frame. I think its next target is likely 1.2970 - 1.2980.

 

[dianajs]

USD/CAD just broke above 1.2980. I think the move to the upside will continue and we will see it reach the resistance zone around 1.3110 - 1.3120.

 

[dianajs]

The pair is still struggling to break above 1.3020, but unless it forms a double top here the move to the upside will continue, I think.

 

[arigoldman]

Good observation, Robbe!