USD/CAD at the Crossroads

[DannyBly]

Looking at USD/CAD, we can see a major bullish SMA crossover on the daily (50 SMA crossing 200 SMA). Price is trading within a major symmetrical triangle, and the minor symmetrical triangle within it provides near resistance to the upside. Momentum reflected in RSI remains on the gate, modestly bullish (around 50 and flatish) Further selling and confirmation of a top in crude will put further pressure on the CAD and bolster the case for a major bullish trend change in USD/CAD.



Analysis By TradersLog.com

[Konf]

USD-CAD
Preferred view is for a fall to below 1.1712 while 1.1783 - 1.1854 area resists. A clear break of 1.1925 would be bullish.

[Konf]

USD-CAD
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2851 or 1.2907 if support around 1.2415 hold. After which a pullback to 1.2415 - 1.2323 zone is possible.

[Konf]

USD-CAD
A corrective rise should ideally test 1.2659 or even higher than 1.2846. Supports are at 1.2223. Stop loss below 1.2264 zone.

[Konf]

USD-CAD
Currently uptrend should end around 1.3207 - 1.3069 area. A correction down to below 1.279 is expected. A rise above 1.3165 will abort the expected correction.

[Konf]

CAD. A course far broke through closing the bottom of channel. Look today,
whether he will return in him back. If yes - will wait the second attempts