USDCAD Analysis – October 20, 2012
USDCAD breaks above 0.9884 resistance, and reaches as high as 0.9938. Further rise could likely be seen in a couple of weeks, and next target would be at 1.0000 area. Key support is at 0.9735, only break...
Tag: USDCAD
USD/CAD Forecast October 22, 2012, Technical Analysis
The USD/CAD currency pair had a strong showing on Friday as we raced towards the 0.9950 level. We did not managed close above it, but we are certainly knocking on the door. It is at that level...
USD/CAD Forecast October 19, 2012, Technical Analysis
The USD/CAD pair fell most of the session on Thursday, but the 0.98 handle offered enough support in order to push this pair almost to the unchanged level. The resulting candle is a hammer, and it looks...
USD/CAD Forecast October 18, 2012, Technical Analysis
The USD/CAD pair initially surged during the session on Wednesday, but was repelled at the 0.99 handle. In fact, the sellers came in so strongly that we formed a massive shooting star. This suggests to us that...
Are the Canadian Dollar Longs Starting to Sell?
Since the beginning of August, currency futures speculators have been putting on a very large long position in the Canadian Dollar. According to the latest COT report, the spec long was down from the high, 139.3K contracts...
USD/CAD Forecast October 16, 2012, Technical Analysis
The USD/CAD currency pair had a bullish session on Monday as the market continues to hover around the 0.98 handle. This market currently doesn’t really interest us as we see far too many chances at choppiness over...
USD/CAD Forecast October 15, 2012, Technical Analysis
The USD/CAD pair gained slightly during the session on Friday as the markets basically went nowhere. The oil markets of course will continue to drive this currency pair, but more importantly at this moment in time is...
USDCAD Analysis – October 13, 2012
USDCAD may be forming a cycle top at 0.9884 on daily chart. Another fall to test 0.9632 support could be expected next week, a breakdown below this level will indicate that the downtrend from 1.0445 has resumed,...
USD/CAD Forecast October 12, 2012, Technical Analysis
The USD/CAD pair attempted to rally during the Thursday session, but was beat back at the 0.98 handle in order to show Canadian dollar strength yet again. The shooting star that was formed certainly is telling, and...
USD/CAD Forecast October 11, 2012, Technical Analysis
The USD/CAD pair shot straight up after initially dipping during the trading day on Wednesday. We paused just above the 0.98 handle, but still see quite a bit of resistance all the way to the 0.9950 level....