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…
Tag: USDCAD
GBPAUD Consolidating Above Weekly Chart Triangle Resistance
The GBPAUD is in the advanced stages of consolidating within an upchannel (on the daily chart). Significantly, the GBPAUD is forming a weekly Doji, digesting the break above triangle resistance (on the weekly chart)…
USDCAD Weekly MACD Trying to Positively Cross
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…
USDCAD Reclaims Key 1.25 Level
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…
VIX (VX) Trying to Form 1st Green Weekly Candle in 6 Weeks
The VIX (VX) is trying to form its 4th straight green daily candle and its first green weekly candle in 6 weeks. Significantly, the VX has rebounded after slipping last week to a fresh 2021 low, with the VX back above downchannel support (on the weekly chart) after briefly sliding beneath it last week…
USDJPY Nearing Highest Level Since 2018
The USDJPY is in the advanced stages of a 2 week plus Bull Flag consolidation (on the daily and weekly chart), firming just below the 2021 high formed in mid October. Significantly, the USDJPY is bumping into the highest levels since 2018, with the widely anticipated US Non-Farm Payrolls (NFP) on Friday potentially being a catalyst for a Bull Flag extension towards the 2017 high…
USDCHF Extending Weekly Chart Upchannel
The USDCHF is seeing a bit of healthy profittaking in today’s Asia morning after 3 straight green daily candles. Significantly, although the USDCHF is bumping up against upchannel resistance (on the daily chart), it has completed last week’s consolidation and has arguably begun once again, extending a major upchannel (on the weekly chart)…
USDCHF Retesting 61.8% Fib Retrace of Apr-Jun Slide
The USDCHF is trying to halt the consolidation since the beginning of the week, with a decisive rebound coming as early as today following the SNB’s Monetary Policy Assessment and rate announcement at 330am EST. Significantly, the USDCHF found support yesterday near the July and August highs and the 61.8% Fib retrace of the April to June slide, with any reclaiming before the weekend of last week’s high to trigger an extension of the upchannel (on the weekly chart) for next week…
USDCAD Bouncing off Weekly Chart Prior Downchannel Resistance
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…
USDCAD Trying to Bounce Off 3 Month Uptrend Support
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…