International Business Times

USD/CAD Weekly Technical Analysis

USD/CAD Weekly Outlook

USD/CAD's decline continued last week and accelerated to as low as 0.9633. Such decline was admittedly deeper than expected. And as long as 0. Current decline could target a test on 0.9406 low next. Though, break of 0.9842 will indicate short term bottoming and bring rebound back to 0.9948 resistance and above.

Sep 16, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD dropped to as low as 0.9765 last week and the break of 0.9799 support invalidated our original view. Initial bias remains on the downside this week and current decline would now target 100% projection of 1.0656 to 0.9799 from 1.0445 at 0.9598. So far price actions from, 1.0656 are corrective looking and thus, we'd focus on reversal signal again near to 0.9598. Though, break of 0.

Sep 10, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD engaged in sideway trading in range of 0.9842/9948 last week. The development suggest that fall from 1.0445 is not finished yet and another low would be seen. But again, we view fall from 1.0445 as a corrective move and expect strong support ahead of 0.9799 to contain downside and bring reversal. On the upside, above 0.9948 minor resistance will flip bias back to the upside for 1.

Sep 03, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD's fall from 1.0445 continued last week and reached as low as 0.9860. It started to show loss of downside momentum, with bullish convergence condition in 4 hours MACD. Also, as noted before, we're viewing such decline as a corrective move and expect strong support ahead of 0.9799 to contain downside.

Aug 18, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD's choppy decline from 1.0445 continued last week and reached as low as 0.9905. While downside momentum is seen diminishing with mild bullish convergence condition in 4 hours MACD, there is no sign of bottoming yet. Initial bias remains on the downside for 0.9799 support. But note again that as we're treating fall from 1.

Aug 12, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD's choppy correction from 1.0445 continued last week and reached as low as 0.9979. Initial bias remains on the downside this week and deeper fall would be seen towards 0.9799 key support level. However, as we're treating fall from 1.0445 as a correction, we'd expect strong support above 0.9799 to contain downside and bring strong rebound. Though, break of 1.

Aug 05, 2012 | ActionForex

USDCAD: Extends Bearishness, Eyes More Declines

With USDCAD declining sharply the past week, the risk in the new week is for the pair to extend that weakness. In such a case, the 1.0000/0.9988 levels will come in as the next downside objectives. We expect the pair to find a respite here and possibly turn higher. But if that zone gives in, expect further declines to occur.

By Mohammed Isah | Jul 30, 2012 | FX Tech Strategy

USD/CAD Weekly Outlook

USD/CAD's rebound was limited at 1.0231 last week,, below 1.0249 resistance. Subsequent sharp decline pushed it through 61.8% retracement of 0.9799 to 1.0445 at 1.0046. The development indicates that correction fro 1.0445 is going to go deeper. Initial bias remains on the downside this week and current fall could now head towards a retest of 0.9799 key support level. On the upside, above 1.

Jul 30, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD rebounded to 1.0249 last week but was limited there and weakened again. Current development argues that correction from 1.0445 is not completed yet. Initial bias is mildly on the downside this week and break of 1.0100 will target 61.8% retracement of 0.9799 to 1.0445 at 1.0046. Though, we'd expect strong support from 1.

Jul 15, 2012 | ActionForex

USD/CAD Weekly Outlook

Despite dipping to as low as 1.0100 last week, USD/CAD formed a temporary low there and recovered. Initial bias is neutral this week first. On the downside, below 1.0100 will extend the correction from 1.0445. But we'd expect strong support from 61.8% retracement of 0.9799 to 1.0445 at 1.0046 to contain downside to finish the correction and bring rebound. On the upside, break of 1.

Jul 08, 2012 | ActionForex

USD/CAD Weekly Outlook

Despite rebounding to 1.0362, USD/CAD failed to sustain gain and indeed dropped sharply towards the end of the week. The development indicates that correction from 1.0445 is not over yet. Initial bias remains on the downside for 1.0159. Break will target 100% projection of 1.0445 to 1.0159 from 1.0362 at 1.0076 next. But we'd expect strong support from 61.8% retracement of 0.9799 to 1.

Jul 01, 2012 | ActionForex

USD/CAD Weekly Outlook

USD/CAD rebounded after hitting 1.0159 last week but then pared much gain towards the end. Initial bias is neutral first and we'll wait and see the developments. On the upside, above 1.0300 minor resistance will reaffirm the case that correction from 1.0445 has already finished at 1.0159. Intraday bias will then be flipped back to the upside for 1.0445. Break will resume rally from 0.

Jun 24, 2012 | ActionForex

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