The common European currency is hard to chart against the Canadian Dollar. However, due to the high demand for the pair on the Swiss Foreign Exchange, the Dukascopy Analytics team is doing one of the rare reviews of the pair. In general the currency exchange rate is beginning a large scale decline due to bouncing off the resistance of a massive dominant channel...
The common European currency has recently reached the resistance of a rather large scale descending channel pattern against the Canadian Dollar. This resistance has been holding its ground for three times during the last weeks. The reasons for the various attempts of the Euro to break through can be found in the various support levels below the currency...
The Canadian Dollar by large is doing a long term rebound against the Japanese Yen, as the rate has formed a long term ascending channel pattern. However, there are some details that need to be taken into account, if one wants to speculated on this pairs movements. First of all the rate seems to be highly influenced by the Fibonacci retracement levels, which can...
The common European currency continues to lose value against the Canadian Dollar, and the rate is set to continue to decline in the future. However, the pair is set to find loads of support in the short term. There are two base scenarios. First the pair might find support in one of the various support levels form 1.4470 to 1.4550 levels. Afterwards it could...
If one looks at the charts, which involved the Canadian Dollar, first thing one notices is the massive jump of the Loonie against anything else. That is the jump of the unexpected Bank of Canada rate raise, which was a purely fundamental move. Although, the fundamental move did not destroy, but rather helped to map various patterns. For example against the...
Although the common European currency already met with the long term, most dominant channel’s support against the Canadian Dollar, another retreat to reconfirm the trend line has occurred. Actually, the rate recently reconfirmed the ascending channel pattern’s upper trend line twice, as it rebounded against the trend line and the monthly S1 just below the 1.47...
Recently the Canadian Dollar bounced off a dominant channel up pattern’s lower trend line against the Japanese Yen. As a result of the rebound a short term ascending channel pattern has revealed itself. The pattern is set to guide the Loonie higher in its surge against the Japanese Yen. However, there is one issue. The dominant pattern is a much larger scale than...
The review of the EUR/CAD pair is done due to the demand of traders. Traders want to trade this pair, as it is one of the options to use to trade the Euro without the US Dollar’s fundamental influence. However, the recent surge of the common European currency can not be mapped in a pattern against the Canadian Dollar. Instead the fact that the pair should head...
The previous forecast for the USD/CAD pair was wrong on one account. The pair did not need the additional support of the weekly S1 at 1.25 mark to break the junior patterns resistance. After dropping on the release of the Canadian Retail Sales on Tuesday the currency exchange rate found support in the lower trend line of the dominant pattern. The support was...
The common European currency recently passed a significant cluster of resistance against the Canadian Dollar. The cluster is made up of the 61.80% Fibonacci retracement level of the 2015 low and 2016 high levels and the monthly R1. Both of these levels of significance are located near the 1.4920 mark. However, they have begun to provide support in the pair’s...
Price has hit 423.6 fibo resistant level and also RSI is coming down from a high overbought position in line with Stoch. I believe that it will push down to the horizontal resist now turn support at the 1.75294 level. Further confirmation in 4H chart shows it to be on a downward pressure.
The Canadian dollar had a negative trading session on Monday. The loonie was pressured downwards as the price of oil retreated and the USD advanced on the hopes President Trump will present a tax reform plan this week. The results of the first round of French presidential elections sparked an appetite in riskier assets hurting Canadian bonds as investors sold...
. The Canadian Dollar lost ground, after Canada’s consumer price index (CPI) advanced less-than-anticipated by 1.6% YoY in March. The pair is expected to its find support at 1.3396 and its first resistance at 1.3494. With 1.3456 minor support intact, intraday bias remains mildly on the upside for 1.3534 resistance. Break will target 1.3598 high next. Decisive...
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We may finally see the USD head and shoulders drop. The USD has come to the neckline. A pull back in the USD has created buying opportunities for CAD, AUD, NZD and others. CAD fought back lower prices. Gartley has been achieved if bulls can raise the USD, and the CAD will fall off the Gartley. If the USD drops we may achieve a Butterfly for the CAD.
I will quickly publish this chart to show you the long term uptrend in the $USDCAD appears to be over. The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high. The long term trendline is broken and the $USDCAD is sitting on a level where a tremendous amount of volume and time has been spent at $1.31. Risk...