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USD/CAD

Tools used for Analysis:
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 1.2797
Resistance exists at 1.3500
Volume: Neutral
Trend: Side-wise
price moving in the range direction after testing resistance area 1.3500
can stay in range direction for the coming weeks.
My expected target on 1st of May for USD/CAD is: 1.3020
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USD/CAD

Tools used for Analysis:
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 1.3103
Resistance exists at 103630
Volume: Low
Trend: Sidewise
price moving in the range direction after testing resistance area
can stay in range direction for the coming weeks.
My expected target on 1st of February for USD/CAD is: 1.31035
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priceaction113 avatar

Canada will release the November GDP report on Tuesday. In October, GDP was unexpectedly low, missing the estimate of a 0.1% gain. This marked the first decline since May and has raised concerns that economic growth in the fourth quarter will be weak. If GDP again misses expectations, we could see the Canadian dollar lose ground,

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the BoC will be under increased pressure to lower interest rates. Last week, Earlier in January, the bank held rates at 0.50% but expressed concerns of economic turbulence due to Donald Trump’s protectionist stance, which could have significant repercussions for the Canadian economy.

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CAD’s price action appears decoupled from crude oil dynamics as of late, turning the attention instead to the US and Canadian money markets and the yield spread differentials, particularly in the shorter end of the curve

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The recent cautious tone from the BoC reflects this scenario, adding that the domestic output gap could close at some point in mid-2018. The central bank has even left the door open for further easing in case the outlook deteriorates in response to ‘unwelcomed’ protectionism from the Trump’s administration.

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the Federal Reserve and a steady-to-dovish stance from the Bank of Canada are supporting the idea of a higher exchange rate in the months

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USD/CAD

Tools used for Analysis:
EMA (14 ), candlestick chart ,Horizontal lines, volume. support and resistance point.
Downside support exists at 1.2797
upside resistance exists at 1.3980
volume : High
price moving in the upside direction after testing support resistance area
can stay in range direction for the coming weeks.
My expected target on 2nd of January for USD/CAD is :1.3089
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Elens94 avatar
Elens94 14 Lis

good

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After a month near consistent losses against the Canadian dollar, the US dollar gained 2.6% or roughly 340 pips on the back of a widely anticipated rate hike, but a less anticipated hawkish tilt in the infamous Federal Reserve Dot Plot.

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Before the Federal Reserve announcement, the Canadian dollar was pushing toward strong support of 61.8% Fibonacci retracement of the August to November range as well as the 200-day moving average and below the Ichimoku cloud

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For Canadian Dollar Bulls, there was an unfortunate combination of a compelling thesis for further US dollar strength alongside disappointing Canadian manufacturing sales that were negative again in October. While the Bank of Canada has been less dovish than people initially expected, USD/CAD may resume higher in the choppy bullish channel shown in the chart below

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USD/CAD

Tools used for Analysis:
EMA (14 ), candlestick chart ,Horizontal lines, volume. support and resistance point.
Downside support exists at 1.28241
upside resistance exists at 1.33588
volume direction High
price moving in the range direction after testing support area
can stay in range direction for the coming weeks.
My expected target on 1st December for USD/CAD is : 1.26955
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USD/CAD

Tools used for Analysis:
EMA (14 ), candlestick chart ,Horizontal lines, volume. support and resistance point.
Downside support exists at 1.2672
upside resistance exists at 1.3200
volume direction HIGH
price moving in the range direction after testing support area
can stay in range for the coming Weeks
My expected target on 1st of November for USD/CAD is : 1.3117
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USD/CAD


Tools used for Analysis
:

EMA (14 ), candlestick chart ,Horizontal lines, volume. support and resistance point.
Downside support exists at 1.2514 and 1.2790
upside resistances exist at 1.3150 and 1.3437
volume direction up
price is in the upward direction but in the slow lethargic way and testing resistance area at 1.3150.
Price testing upper resistance area i.e 1.3150 a downside move can be seen in next 2 weeks.
My expected target on 3rd October for USD/CAD is : 1.2782
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