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Usdcadanalysis

USD/CAD bulls eye 1.3700A strong bullish trend has developed on the 1-hour chart of USD/CAD, which is underscored by its timely yet shallow retracements. It's found support along the 10-bar EMA to show bullish momentum is increasing and the OBV (on balance volume) is trending higher with prices. A retracement has also found support around the weekly R1 pivot and the high of a prior bullish engulfing candle, whilst holding above the daily pivot point. The bias is bullish above the daily pivot and for a rally towards 1.3700, with the daily R1` and weekly R2 pivot providing potential targets for bulls just below 1.3700.
by CityIndex
What is driving this USDCAD forex pair up?Is oil moving up again? I don’t see that. Remember this Canadian dollor is supposed to be a commodity currency pushed by the price of oil. I checked the USD’s DXY, which shows a little strength in the US dollar over the last few days. There seems to be no solid drive here for this incline, but I am unsure if it is sustainable over the long run. There are hardly any instruments moving positively today with my latest scans against the forex and CFD universe.
Long
by bryandowningqln
USD/CAD bounces off Support level, time to go long?Hello traders, USD/CAD has bounced off the long-term support level that I have highlighted in my chart. We can see the formation of Bullish candlestick pattern in the Support level that gives us a significant reason to consider long entries in USD/CAD. That being said, I would recommend traders to wait for a better entry before going long to minimize the risk. 1.3274 appears to be a key level to go long with SL moderately below 1.32 level and TPs at 1.35 and 1.37 respectively.
Long
by YourLazyTrader
1
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is now quite BUY. The dollar started to strengthen slightly because of the short-term POSITIVE SENTIMENT for the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA. We think it will go up to 1.3585 level before going down again. Also, with this MARKET RISK ON SENTIMENT, the USDCAD PRICE can SELL to the 1.3300 LEVEL in the future. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall