On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of significant bearish rejection was manifested during recent consolidations. On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant […]
General overview for 29/06/2016: Currently, the market is developing the internal corrective cycle in wave (ii), and sub-waves a and b are now completed. There is one more wave down needed to terminate the corrective cycle and resume the uptrend. The most important level is intraday support at 1.2858, and any violation of the 1.2677 […]
Ian Coleman, of First4Trading.net, is looking to buy USD/CAD. He explains his technical analysis of weekly, daily and 4–hour charts. Ian Coleman: First, I want to briefly talk about the dollar index. The US dollar index has been in an uptrend since 2014 and consolidated for the majority of 2016. But in May, we did see a bullish outside bar, that gives us a positive bias. We have also seen dips which […]
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The Canadian dollar (sign: $; code: CAD) is the currency of Canada. It is normally abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. As of 2007, the Canadian dollar was the 7th most traded currency in the world A currency pair depicts […]
