Tag Archives: CAD

USDCAD Can Still Be In A Corrective Phase

Gregor Horvat

USDCAD is turning sharply down from recent highs, which could be start of a new bearish cycle. However, we will always try to label the count so that we will stay with a trend. As such, we adjusted the labeling to a flat in wave 4) which can still drop nearly 300 pips before market can be looking for a support. At the moment we are tracking sub-wave C to 1.2950. Ideally more…

Volatile Day For Crude And Canadian Dollar

Fawad Razaqzada

Crude oil and crude-related assets like the Canadian dollar have had a volatile session Thursday. Oil prices were initially higher and were on course to finish in the black for the third consecutive session. Sentiment in the oil market was improved on increased geopolitical risks arising from Russia’s military intervention in Syria and worries about supply outages in the US due to the developing Hurricane Joaquin. In addition, risk sentiment had improved more…

USDCAD Is Retracing Towards POC

Nenad Kerkez

US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see a rate hike in between September and December. US CPI has come in line with expectations, Core Durable Orders also while major news release for CAD will be GDP later in the week (Friday). However any mention of a possible hike is bullish to USD and traders will pay close attention to FED’s statement. more…

USDCAD Eyes New High Around 1.3400

Gregor Horvat

On USDCAD we see more upside to come in weeks and months ahead, towards 1.3400 area where pair could accomplish wave C of a big second zigzag that is part of a contra-trend move from 2007 lows. The reason for more upside is latest pullback since March 2015 which looks like a temporary pause within uptrend. Once market will break above the highs from 2008 traders should be aware of a significant trend change, from bullish to bearish mode. more…

EUR/CAD Break To The Upside?

Ville Vainio

June 11, 2015 @ 2:31 pm – I have gone with the triangle scenario here in EUR/CAD. This pair is again right on the support zone around 1.38 and has been rejected couple of times before. If this triangle scenario proves correct, we should see a push upwards and the thrust measurement from the triangle gives target of 1.416 for the next wave.
Remember that if this declines past 1.375 this wave count is wrong and need to be revised. more…