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Usdcadforecast

USD/CADThe US dollar has been all over the place during the previous month as we squeeze between the 50 week EMA and the 200 week EMA. The 1.29 level above is significant resistance, extending all the way to the 1.30 level. That is a 100 points range of resistance, so if we can finally break above the 1.30 level, then the market is free to go much higher. I would point out that short-term pullbacks continue to see buyers, and therefore it looks like we are trying to form some type of ascending triangle. Although the oil markets are ready to break higher given enough time, the reality is that the US dollar continues to attract a lot of inflows. That should continue to be the case on dips going forward.
by SmoothJB
Failed breakout for the USDCAD, waiting for the next oneThe dollar cad finally broke out of its consolidation range this week but fell straight back into it later in the week. It is now trading at the bottom of the consolidation range again and we will be looking at a long entry. It is less likely that this coming rally will be a fake out since, the institutions already caught some fish the last time round. These levels are good for a long but we could move down farther from here to take out some longs at 1.263.
Long
by IkanBilisCapital
USDCAD price action still looks Bullish!Hi Traders, USDCAD has been ranging lately and we're yet to see growth out of this structure to the 1.30 level. Price failed to continue lower in mid January creating a reversal Impulse followed by a larger bullish continuation structure which has made multiple swing highs & lows which tells us momentum is still in the picture. Keep an eye out strength in the USD to push price out of this structure and towards the upper boundary of thr HTF structure. Good Luck! Click the like button if you agree with this idea! Comment below and share your view on this pair.
Long
by ktlfx
USDCADThe United States dollar initially pulled back against the trading week, just as we have seen over the last several weeks. Now we have turned around to form a bit of a hammer, just as we had the previous two candlesticks. With that being said, if we can break above the 1.28 level, then it is likely we could go looking towards 1.30 level. If we break above the 1.30 level, then it is likely that we go much higher. Keep in mind that the Canadian dollar has underperformed, despite the fact that oil has been rallying.
Long
by SmoothJB