USD/CAD Analysis (August 2)
The pair might be in the process of carving out a double bottom formation on the weekly chart which would open the door to a major reversal this year.
Tag: USDCAD
USD/CAD Technical Analysis Aug 1, 2011
The USD/CAD spike during the Friday session, and ran all the way up to the 0.96 area, a place that we suggested could turn out to be resistance.
USD/CAD Analysis (July 31)
The pair is carving out a material base on top of 0,94 by validating a double bottom on the 4-hour chart (break above 0,9530).
USDCAD Analysis – July 30, 2011
USDCAD is in downtrend from 0.9912, the bounce from 0.9406 is treated as consolidation of downtrend. Range trading between 0.9406 and 0.9650 is possible next week. Support is now at 0.9406, a breakdown below this level could...
USD/CAD Technical Analysis for July 29, 2011
The USD/CAD pair fell and then bounced from the 0.9450 level on Thursday, perhaps suggesting that we are ready to bounce even higher.
USD/CAD Analysis (July 29)
The pair is carving out a material base on top of 0,94 by validating a double bottom on the 4-hour chart confirmed by a positive divergence on the MACD.
USD/CAD Technical Analysis July 28, 2011
The USD/CAD pair had a bullish day on Wednesday, tying in with the oil markets falling. The pair has been dictated by the CL contract lately, as it does from time to time. The pair looks like...
USD/CAD Analysis (July 28)
Yesterday, we did see the pair bouncing on top of 0,94 and thus validating a double bottom on the 4-hour chart confirmed by a positive divergence on the MACD.
USD/CAD Analysis (July 27)
The pair remains under pressure as it evolves in a clear bearish trend. However, the market seems to consolidate on top of 0,94. A break below this level though would accelerate decline.
USD/CAD analysis (July 26)
The pair remains under pressure as it evolves in a clear bearish trend. We will hold a bearish bias until we see a clear reversal structure building. It is not yet the case as the market tries...