The USDCAD is trying to complete a 5th straight green weekly candle, and appears to want to test the 2022 high and psychologically key 1.30 whole figure level by early May. A monthly close above 1.30 would signal the completion of a major bottoming effort since June 2021 (seen more easily on a monthly chart at tradingview.com)…
The USDCAD is gaining for a 2nd straight day, and now comfortably back above the psychologically key 1.25 whole figure level. Significantly, the USDCAD has bounced off Monday’s fresh 2022 low, and is nearing the 38.2% Fib retrace of the March to April slide…
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The USDCAD is trying to firm following yesterday’s sharp intraday reversal lower, remaining within a day or so’s volatility from the 2021 high. Significantly, the USDCAD appears poised before year end, for an extension of the weekly chart upchannel to the psychologically key 1.30 whole figure level, which coincides with the 38.2% Fib retrace of the slide from the March 2020 high to the May 2021 low…
The USDCAD is catching its breath going into today’s European morning, digesting yesterday’s reclaiming of last week’s high. Significantly, the USDCAD is gathering steam in its upchannel extension (on the weekly chart), where odds are now fairly high for a test of the 2021 high by Q1 sometime…
The USDCAD is edging higher going into today’s European morning, consolidating yesterday’s 100 pip plus reversal off its intraday low. Significantly, the USDCAD is now well on its way to extending an upchannel (on the weekly chart) over the next few months, with the October low significantly higher than the May low…
The USDCAD is edging higher going into today’s European morning, trying to form a 4th straight green daily candle. Significantly, the USDCAD is back above the psychologically key 1.27 whole figure level, with a catalyst for retesting the August high coming as early as today following the Bank of Canada’s Governor Macklem comments at noon EST…
The USDCAD is continuing its week plus firming effort near the psychologically key 1.26 whole figure level. Significantly, with volatility certain to surge following Friday’s highly anticipated US Non-Farm Payrolls (NFP), odds are moderately high for a break of upchannel support (on the daily chart) by Monday, with lower odds for a close this week below the weekly chart’s prior downchannel resistance…
The USDCAD is firming going into the US morning and trying to bounce off the psychologically key 1.26 whole figure level. Significantly, although the USDCAD has corrected over 300 pips since Friday’s fresh 2021 peak, the USDCAD could see fresh buying demand as early as today following the US GDP data at 830am EST, and more likely following Friday’s highly anticipated Fed comments out of Jackson Hole…
The USDCAD is consolidating for a 3rd straight day just above the psychologically key 1.25 whole figure level, appearing to have halted the slide since the July high. Significantly, the USDCAD has bounced from the 50% Fib retrace of the June-July rally, with a weekly close above the weekly chart downchannel resistance coming as early as following Friday’s Canadian employment data and the highly anticipated monthly US Non-Farm Payrolls (NFP)…
