Tuesday, January 26, 2016

The USD/CAD goes back down

On the daily chart of the USD/CAD we can see that the price has been boxed between the 1.4100 level and the 1.4300 level. Even though today the price broke below the 1.4100, it could not stay below that level and goes back up. However, if tomorrow we have another bearish candle, then the pair may have changed trend to the downside. But in order for the pair to change direction, the Canadian Dollar should get stronger helped by oil, but if oil does not rise, then it would be difficult for the pair to continue falling.


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9 comments:

  1. UnknownJan 26, 2016, 10:40:00 PM

    I agree with your point of view.

    ReplyDelete
  2. UnknownJan 27, 2016, 4:08:00 AM

    It could have found some support.

    ReplyDelete
  3. UnknownJan 27, 2016, 10:41:00 AM

    Good point! I'll keep an eye on it.

    ReplyDelete
  4. UnknownJan 27, 2016, 11:05:00 AM

    There's a double bottom visible on the 1-hour time-frame, so it's possible it will start climbing again.

    ReplyDelete
  5. UnknownJan 27, 2016, 2:10:00 PM

    Thank you for the analysis!

    ReplyDelete
  6. UnknownJan 27, 2016, 3:16:00 PM

    Interesting analysis,I will follow up with that.

    ReplyDelete
  7. UnknownJan 27, 2016, 4:02:00 PM

    Very informative article, thanks for sharing!

    ReplyDelete
  8. RozenJan 31, 2016, 11:10:00 AM

    Useful post, thank you.

    ReplyDelete
  9. UnknownJan 31, 2016, 2:58:00 PM

    Great analysis.

    ReplyDelete

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