Forex Signals

Lost in the shuffle of the risk themes in the forex market due to the Euro debt crisis, the Canadian dollar has been weakening despite some fairly positive economic news.  While the US dollar has been strengthening vs. the Euro, the data in the US has been largely positive which bodes well for US demand.
This [...]

Being contained by 1.0265 resistance, USDCAD pulled back from 1.0222. However, the fall is treated as consolidation of uptrend from 0.9891, another rise towards 1.0400 is still possible after consolidation. Support is at 1.0100, only breakdown below this level could indicate that a cycle top has been formed at 1.0222 on 4-hour chart, then deeper [...]

The Loonie (CAD) has already touched parity with USD earlier this morning and is likely to weaken further as higher CPI data in Canada has been dismissed in favor of risk aversion due to a slowing global economy and the Euro debt crisis.  While inflation may be elevated and higher than expected, it is not [...]

Earlier this morning, the USD/CAD pair eclipsed parity before falling back below and trading lower on Dollar weakness.  This is the first time this has occurred since the beginning of the year as risk aversion and a declining US economy are factors causing Loonie weakness.
The Canadian dollar may continue to weaken as the global economy [...]

USDCAD remains in uptrend from 0.9725, the fall from 1.0025 is treated as consolidation of uptrend. Support is at the rising trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to resume, and another rise towards 1.0200 is still possible. However, a clear break below the trend [...]

USDCAD stays in a falling price channel on 4-hour chart, and remains in downtrend from 0.9777, and the fall extended to as low as 0.9406. Resistance is at the upper border of the price channel, as long as the channel resistance holds, downtrend could be expected to continue, and next target would be at 0.9300. [...]

Being supported by the uptrend line from 0.9444 to 0.9669, USDCAD rebounded from 0.9701. Range trading between 0.9669 and 0.9898 would likely be seen in a couple of days. As long as 0.9669 key support holds, the price action in the range is treated as consolidation of uptrend from 0.9444, and one more rise towards [...]

USDCAD had reached the uptrend line from 0.9444 to 0.9669. Deeper decline to test 0.9669 support would likely be seen later today, a breakdown below this level will confirm that the rise from 0.9444 had completed at 0.9898 already, then the following downward move could bring price back to 0.9500-0.9600 area. However, as long as [...]

After touching the trend line from 0.9513 to 0.9655, USDCAD rebounded from 0.9712, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise towards 0.9851 is expected later today, a break above this level will confirm that the uptrend from 0.9444 has resumed, then next target would be at 0.9900 zone. Only [...]

Being contained by 0.9639 support, USDCAD rebounded strongly from 0.9655, suggesting that a cycle bottom has been formed on 4-hour chart. Now the rise from 0.9655 would possibly be resumption of uptrend from 0.9444. Further rise towards 0.9816 could be seen later today, a break above this level could signal resumption of uptrend, then next [...]