USD/CAD - Will USD/CAD Fall or Rise?

Published date: 01/06/2018
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This pair has been on a roller coaster this past week with a significant drop on Wednesday, falling from the 1.30000 psychological level down to 1.28250 approaching our monthly zone. However, the very next day price spiked back to the upside on the back of Thursday positive outlook from The Bank of Canada.

This pair stayed unfazed over NFP results and stays currently trading at 1.29500, with the lower time frame indicating possible bearish move next. We have a resistance level close to the price at 1.29750, if the price remains below that we could see a short opportunity present its-self. 

Fundamentals for CAD - we expect price action to be dictated by NAFTA talk once again. President Trump seems to be very bipolar surrounding this issue and the markets are struggling to price in any kind of deal. Elsewhere, Canadian GDP came in worse than expectations and now its the turn of employment and we will also hear from BoC gov.


Comments

  • USD/CAD - Will USD/CAD Fall or Rise?
    Forex God says:
    06/06/2018

    110.700 - 111.000 is where this bitch gon sell off, as of now nothing but bulls in the market.

  • USD/CAD - Will USD/CAD Fall or Rise?
    Grant says:
    05/06/2018

    pair created a long upper shadow on the daily showing the the bulls could not sustain the highs. highs of the bearish engulfing pattern (1.30468) acted as resistance. we still did no close above the 1.30000 level. on the 4 hour time frame the pair created a shooting star which is a sign the bears are coming into play. the pair is still playing between 1.30000 and 1.29000 First short target 1.29000 thereafter 1.28150 and potentially 1.27500

  • USD/CAD - Will USD/CAD Fall or Rise?
    Grant says:
    05/06/2018

    usdcad is very indecisive at the moment. our weekly time frame printed a doji last week which indicates indecision with the pair, the weekly time frame also respects the falling resistance line. on our daily chart we printed a bearish engulfing pattern which engulfed the 3 previous candles signifying its strength. the pair is currently stuck between two important levels 1.30000 and 1.29000. A break and close of either level will indicate a direction this pair.

  • USD/CAD - Will USD/CAD Fall or Rise?
    sam says:
    04/06/2018

    am looking for the usd to end the week strong over cad though both pairs are looking weak at the movement I will be favouring usd there is a lot of support at 1.2900 level which we have tested so far today which is Monday 4th ill be expecting this pair to reach 1.3095 area

  • USD/CAD - Will USD/CAD Fall or Rise?
    Yousuf says:
    04/06/2018

    weekly tf shows bearish trend still valid. bounce of trend. could see a bear trend forming on this pair as a correction is expected

  • USD/CAD - Will USD/CAD Fall or Rise?
    Max Capital says:
    04/06/2018

    USDX is currently below the TL support so I suppose the CAD will rise a bit or even if it stays where it is the USD is likely to go short a bit.

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