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Thread: USD/CAD - US Dollar Canadian Dollar

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    Default USD/CAD - US Dollar Canadian Dollar

    Short term (Intraday)
    0,9933. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 0,9800 / 1,0000 range. We won't take a position.
    Resistances
    0,9950 - 0,9980
    Supports
    0,9900 - 0,9830

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    Bullish fxgirl's Avatar
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    Default

    usd/cad is on a range market/...... o.9700to 1.009

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    Default Usd/cad (Intraday, Asian session)

    Uds/cad broke 1.0000 resistance. The indicator is in a bullish configuration. The resistances should be at 1.0180 and 1.0200. The supports should be at 1.0060 and 1.0000

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    Default Usd/cad (Intraday, American session)

    Usd/can is in uptrend. The indicator is in bullish configuration. The target is at 1.0400. The price should find resistances at 1.0300 and 1.0360. The supports should be at 1.0220 and 1.0165

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    Default Usd/cad (Intraday)

    Usd/cad moves with low votality. 1 hour and 4 hour trend Indicator is in a bullish configuration. The price should find resistances at 1.0295 and 1.0310. The supports should be at 1.0210 and 1.0170

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    Bullish fxgirl's Avatar
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    USD/CAD Daily Outlook
    Daily Pivots: (S1) 0.9800; (P) 0.9891; (R1) 0.9985; More.

    USD/CAD's rise from 0.9709 continues today and extends further to as high as 1.0241 so far, taking out 1.0198 resistance. At this point, intraday bias remains on the upside as long as 1.0137 minor support holds. Further rally is expected to retest 1.0378 resistance first. On the downside, below 1.0137 will turn intraday outlook consolidative first. But downside should be contained by 1.0014 resistance turned support and bring another rally.

    In the bigger picture, rebound from 0.9056 made a top at 1.0378 with bearish divergence condition in daily MACD. However, corrective nature of the fall from 1.0378 to 0.9709 suggests that it's merely a correction to the whole rebound from 0.9056 low. In other words, more upside is now expected to be seen to retest 1.0378 resistance at least with prospect of extending higher. On the downside, break of 0.9872 will dampen this view and turn outlook neutral again.

    In the longer term picture, a medium term bottom is in place at 0.9056 after USD/CAD just missed double projection target of 161.8% projection of 1.4006 to 1.1716 from 1.2737 at 0.9032 and 161.8% projection of 1.2737 to 1.0930 from 1.1874 at 0.8950. But with key medium term resistance zone of 1.0930, 38.2% retracement of 1.4006 to 0.9056 at 1.0947 and 50% retracement of 1.2737 to 0.9056 at 1.0897 remains intact, the long term down trend from 1.6196 is still in force.

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    Default Canadian Dollar Falls in Forex Trading

    Commodities contribute to loonie decline in currency trading. The Canadian dollar is struggling in forex trading on the curency market this morning. The loonie has dropped quite a bit against the US dollar in currency trading as commodities have lost ground in trading.
    Bloomberg reports on the commodity currencies on the FX market:

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    Default Canadian Dollar Weekly Outlook

    Given the strong trade relations between Canada and the US, the Canadian dollar is particularly susceptible to sell-offs when the going looks rough for their neighbor to the south. Furthermore, the Bank of Canada has had far more leeway to slash interest rates in recent months, as the rapid appreciation of the Canadian dollar throughout 2007 has led import prices to plummet, alleviating broad inflation pressures. In fact, the Bank of Canada's monetary policy statement released following the most recent rate noted that they judge "that the balance of risks around its January projection for inflation has clearly shifted to the downside," and that "(f)urther monetary stimulus is likely to be required in the near term to keep aggregate supply and demand in balance and to achieve the 2 percent inflation target over the medium term." While domestic demand in Canada remains buoyant amidst resilient labor market conditions that have continued to support income growth, the fact that the country's primary buyer of exports may be facing recession create substantial downside risks for the Canadian economy that cannot be ignored. Like the Australian dollar and New Zealand dollar, further drops in commodities like oil will only weigh on the Loonie further, and thus, signal potential for major USD/CAD gains.
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    Default

    S: 0.9870-0.9880
    R: 1.0220-1.0230
    Trend: DOWN

  10. #10
    Pinalli
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    Default

    Hi there,

    Looking at the fx charts the Canadian Dollar has weakened lately against US Dollar, but considering the numerous factors against the CAD, it would seem that the Forex brokers and traders should be trading it higher. I think two factors that suggest USD/CAD may be ready to pivot higher here, even though it is in the middle of the recent medium term range between 1.1800 and 1.3000. First, the 21-day moving average fell last week and the investing and trading community has held this as support. Second, USD/CAD crossed above the 55-day moving average on Friday, only to close below that level. But today we see the pair charging back above that level, so it appears that we may be preparing for another go at the 1.3000 level. It all depend on what the Forex traders do with it today.

    Regards

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    Default

    1,0935. USD CAD is in an downtrend directed

    . USD CAD is in a consolidation after the last bearish movement.


    The volatility rises.


    Bollinger bands are deviated.


    The consolidation should continue. The price should continue to move in 1,0780 / 1,0970 range.

    Resistances

    1,0970 - 1,1065

    Supports

    1,0850 - 1,0780

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    Post Usd/cad

    Usd/cad Just Broke Resistance Three And Now There Is A Major Retracement. However Anyone Entering Now Maybe A Little Late. Watch Well.

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    Default

    usd/cad is on a range market/...... o.9700to 1.009

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    Default

    The range continues but an upside cannot be ruled out. The weekly and monthly charts indicate a continuation of the downward trend. lets wait and see.

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