All Blog Posts Tagged 'CAD' (239)

USDCAD- Setback to deepen this week

The bulk of last week's trading was around the 13 day moving average as the pullback from 5 year highs consolidated. However after the week's top was rejected on Thursday, more significant selling pressure developed to take USDCAD clearly below the 13 day line and to test the top of the daily Ichimoku Cloud. An early reaction to this move is expected but with sentiment now negative with potential through 1.1192 to 1.1143.…


Added by Alan Collins on November 24, 2014 at 7:38am — No Comments

USDCAD - Despite setback, Sentiment is Positive

Initial demand took USDCAD to the most positive levels traded for 5 years last week. Although last week ended with some sharp profit taking, a 2nd positive weekly performance in a row, bullish daily & weekly Keltner channels and the support of the 13 day moving average keep the focus on the topside with targets of 1.1400 and 1.1468.…


Added by Alan Collins on November 10, 2014 at 8:17am — No Comments

TD: CADJPY technical outlook-16 Oct

"CADJPY managed to only stabilize briefly yesterday before sliding to new, short-term cycle lows today which more or less completes a full retracement of the August/September rally. We still think risks are skewed to the downside here though and feel that weakness below 92.75 is likely to see the CAD drop extend to 90.…


Added by Daologic on October 16, 2014 at 1:45pm — No Comments

TD: New Trade-9 Oct: Sell USDCAD at 1.1200, risk 1.1290. Target 1.0950.

"USDCAD traded heavily this week, with the USD’s corrective undertone overshadowing a 5% drop in WTI
crude—something that ordinarily might have weighed more obviously on the CAD. Big technical reversal
signals (daily and, potentially, weekly) in the high 1.12s this week—right where USDCAD peaked in March— suggest an important, short-term (at least) top has formed. We want to sell USD gains back to near 1.1200 in the coming week. "

Added by Daologic on October 10, 2014 at 4:48am — 5 Comments

TD:USDCAD-Correction Risks Rise Despite Weak Crude


On the charts, the tumble on funds over the past two days weakens the uptrend in the market and while the market has recovered from the overnight push below 1.11, price action was weak enough on the charts (forming a bearish engulfing signal on the daily candle) to raise the risk of a deeper correction from here; at the very least, we have to reckon with strong…


Added by Daologic on October 2, 2014 at 11:32am — No Comments

TD:USDCAD On Hold Below 1.12 For Now

"Open 1.1178        Range 1.1135/1.1179        Prev. Close 1.1164

USDCAD continues to pressure resistance at 1.1174 on the charts (daily channel top) and there is speculation that the barrier interest at 1.12 is also helping keep USDCAD capped at present.…


Added by Daologic on September 30, 2014 at 12:03pm — No Comments


"Support 1.1125 Resistance 1.1175

The main focus today will be July GDP released at 13.30 BST. Domestic offers are lined up towards the recent…


Added by Daologic on September 30, 2014 at 11:57am — No Comments

RBS: Trading strategy-29 Sept.

"Negative nominal rates are a powerful medium-term EUR negative and markets aren't trading like EUR/USD positioning is stretched. Stay short as a confirmed break of 1.2671 could lead to an early test of multi-year lows. While GBP/USD should also fall, short EUR/GBP looks a more compelling monetary policy divergence play. RBNZ Governor Wheeler's talk of possible currency intervention is significant and supports our view that NZD/CAD falls further. We add short AUD/CAD as iron ore prices are…


Added by Daologic on September 29, 2014 at 7:49am — No Comments


Overall, we continue to feel that the USD’s broader rally is running out of steam and prone to a correction; that observation, combined with some soft-looking technical signals for USDCAD on the short-term charts continues to make us a little more concerned about a move lower in USDCAD in the next couple of weeks.  USDCAD struggled to hold a bid this week and has looked heavy near 1.10 or a little above. Short-term chart…


Added by Daologic on September 19, 2014 at 11:37am — No Comments


Support 1.0925 Resistance 1.1000

Usd/Cad remains stuck in the range that has prevailed for most of this week, with flows still very much mixed. Usd strength has been countered by Cad strength on many of the crosses, especially Cad/Jpy and Aud/Cad. We would expect to see offers lined up towards 1.1000 now, and beyond that, the key 1.1100 area is still pivotal. To the downside we should still find stops through 1.0925, ahead of demand towards 1.0875/1.0900. Main focus today will be…


Added by Daologic on September 19, 2014 at 11:30am — No Comments

TD:USDCAD NEW TRADE – September 18

Sell USDCAD at 1.0910 stop entry, risk 1.0950. Target 1.0780
We are extending our negative short-term view on the USD to the CAD this week and want to sell USDCAD on a break below technical support in the low 1.09s. The CAD is supported by stable interest rate spreads versus the USD, which might be enough to fuel a push under 1.08 near-term. That would also ’fit’ with seasonal trends that are typically adverse for USDCAD around this time of year.

Added by Daologic on September 19, 2014 at 3:53am — 1 Comment

TD: CAD technical outlook-15 september.


"We highlighted developments on the weekly chart Friday but it is probably worth reiterating what is going on here after USDCAD closed out the week at its best levels since March. The broader bull trend is slowly but surely getting back on track after the Q2 correction; that slide saw funds test, and hold, major support defined by the trend off the 2012 low and the 40- week/200-day MA. The consolidation since March formed a bull wedge and the July break above…


Added by Daologic on September 15, 2014 at 2:55pm — No Comments

BMO FX strategy daily: USDCAD

"Support 1.0850 Resistance 1.0925

The Usd is trading broadly higher this morning, led by Usd/Jpy and the Nikkei overnight in Asia. We have seen some Macro demand for Usd/Cad from yesterday’s lows but offsetting…


Added by Daologic on September 2, 2014 at 12:34pm — No Comments

TD Securities:EURCAD technical outlook-28 Aug

EURCAD retains a weak bias after yesterday’s break under key support at 1.4420 and the market is making good progress already towards our 1.40/1.42 target zone. Given the generalized strength in the CAD and broader weakness in the EUR, we may have to lower our sights a little still. There is solid, bear trend momentum…


Added by Daologic on August 29, 2014 at 5:00am — No Comments

USDCAD - Testing key Averages - Downside break expected this week

The sequence of 3 up weeks ended with the market unable to sustain prices beyond a 50% correction of the fall from this year’s top, 1.0949. The most negative performance for 7 weeks resulted from this price action. This downside stalled on Friday around the 13/100/200 day moving averages and this introduces a note of caution but sentiment is left negative with only  the…


Added by Alan Collins on August 18, 2014 at 7:25am — No Comments

TD:USDCAD- Buy the Dip

"Open 1.0916     Range 1.0900/1.0919     Prev. Close 1.0903

Technically, we can observe a strong underlying bull trend still developing in USDCAD.  Short, medium and long-term trend momentum oscillators are aligned bullishly, something which usually delivers a grinding directional move with…


Added by Daologic on July 31, 2014 at 11:32am — No Comments


"USDCAD has sustained the move through the trigger point of the bull wedge pattern that broke down late last week but, as we suspected might be the case, the low 1.08 resistance area has slowed gains, leaving the USD trading in a narrow range through Monday so far. We may see some modest back and filling of the…


Added by Daologic on July 29, 2014 at 6:47am — No Comments

USDCAD - Platformed by average - gains to extend this week

Following a week of indecisive trading, last week saw a renewal of investor demand. This continued the rally from this month’s low and took USDCAD to the highest levels for 5 weeks. This move was dominated by Friday’s powerful gains and although a failure to break through the 200 day avg or the Marabuzo line created 5 weeks previously concerns, the support offered by the 13 day avg last week, and a move to the top of a rising Keltner channel gives scope for the upside to extend to 1.0857 and…


Added by Alan Collins on July 28, 2014 at 7:58am — No Comments

TD Securities: CADJPY technical outlook-21 July

"CADJPY continues to pressure major support in the low 94 area. Despite failing to hold last Friday’s channel break, we still rather favour the downside for the CADJPY. The short-term trend lower from the early July high at 96.22 is well-defined and relatively well-entrenched on the short-term charts. Intraday…


Added by Daologic on July 22, 2014 at 4:09am — No Comments

TD Securities: New trade Buy USDCAD at 1.0739. Risk 1.06, target 1.10.

"We think the broader, downward correction in USDCAD has run its course; technical factors are turning bullish after the rebound from 1.0600/50 and the fundamental data flow is likely to remain challenging for the CAD. Market positioning is neutral and there is no incentive for investors to get long CAD, in our opinion. We think there is a risk that Canada's June CPI data disappoints to the downside, which should help push USDCAD to, and perhaps through,1.08."

Added by Daologic on July 18, 2014 at 6:19am — No Comments


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