Usd/cad

[alroughani]

Just to show you how economic news will affect the technical analysis

The loonie pushed down the dollar more than 150 pips (105 pips) in one single session after the start of NY AM session following the
November report which revealed the highest net foreign investment in Canadian assets in a year

The next support level is 1.1570 which if broken will send the trend significantly down to 1.1470 minimum

 

[وانا بعد وياكم]

الظاهر واصل لنقطة دعم

على الشارت موضح

وبالتوفيق انشاء الله

 

[alroughani]

I agree but it is a very strong support and even when it was broken last year it was a historic 13 years low

I like this pair as a dealing trade since it respects the technical analysis usually but it seems that i got very sensitive to the economic data recently.

 

[alroughani]

The downtrend is heading down to the historic 13 year low around 1.1450

The Major supports are now at 1.1520 and the one next to this is 1.1470

I believe both should hold any significant drop unless there are significant economic data to affect it

If this broken, i recommend you get out of buying position as the next support level would be difficult to predit as the currency is jumping more than 150 pips aday.

 

[alroughani]

Tommorow's general election in Canada will make a big move in the Canadian Dollar. If conservative wins the office by a majority margin, the CAD will strengthen against the dollar and will send the pair below the psychological level under 1.1470.

So, watch out for the results,, so far USD/CAD is overbought on intraday charts but there is a change to see the psychological level in the European open.

Currently, the pair is at 1.1525 and facing a moderate resistence as the dollar are weak across all other currencies especially the Euro

I would recommend to place your stop loss options if the pair broke the minor resistence at 1.1500 and major resistence at 1.1470


Good luck

 

[alroughani]

Today evening, there will be an annoucement from the Central Bank of Canada and the expectation to rise the interest rate to 3.5 percentage

Watch out carefully for this economic issue as it may send the USD/CAD pair down as it is now trading around the mod support around 1.1500

 

[alroughani]

​

USD/CAd is still trading sideways and trapped between 1.1480 and 1.1580

We are waiting for a break either way.

Looking to the daily charts and Fib retracement it is obvious that the major support rests around 1.1460-70

The major resistence is beginning at 1.1580-90 and the if broken it will jump to around 1.1670 before it sees a minor retracement.

Clearly, we are waiting for any economic developments in order to set the direction. Sideway market is sometimes good for mini 20-30 pip profit if watching carefully along the support and resistence levels.

Good luck all

 

[alroughani]

USD/CAD is still held in a narrow level between 1.146 and 1.1500 which is the psychological barrier either way

IT should find a moderate support at 114.30-40 but if this failed then the next support level will be at 113.50

On the upward level, multiple resistence levels are formed starting at 1.1545 ,
1.1580
1.1640

The FOMC economic formation on Tuesday will give us a good indication about the future daily trend

Good luck

 

[alroughani]

​

USD/CAD has broken every support levels it approached since Jan 21st, it has lost more than 400 pips in 10 days

It is clearly in downtrend picture and now getting a good support around 1.1365-70

The next support level is at 1.1330 and then 1.1300 which are the 14 year low

The next major resistence will be 1.1460 and 1.1540 which i think it will be evident next week

Place your stop levels below 1.1360 and if there is a chance for placing short if 1.1460 is reached witha stop loss at 1.1480

Good luck