Tag Archives: USD/CAD
Daily FX Technical Strategy: Downside risk is the hot Topix
The euro is consolidating and we suspect range trading will continue to dominate trading over the rest of the week. Yesterday, EUR/GBP topped out against its range high with a Key Day Reversal implying near-term downside risk.
FX Daily Majors
Today’s highlights: – EURUSD: Trendline break exposes the key 1.2803 chart support level and then the 38.2% Fibonacci retracement of 1.2740. – GBPUSD: Testing the key 1.5959/60/66 support cluster. We look for a rebound from this support zone higher, back towards 1.6217. However, below would expose 1.5873/25.
FX Daily Majors
Today’s highlights: – EURUSD: ‘Evening star’ reversal pattern turns the focus back on trendline support now at 1.2916. We expect a break below here for 1.2803/1.2740 support.
FX Daily Majors
Today’s highlights: – EURUSD: Advance set to continue through 1.3048 interim resistance for a test of the 1.3172 high. – GBPUSD: Aggressive upside reversal suggests a return through 1.6274 to retest the 1.6310/20 longer-term resistance zone.
FX Daily Majors
Today’s highlights: – EURUSD: Range-bound going into the ECB. We expect 1.2803 support to hold firm with breakout risk higher for 1.3048 and then 1.3172.
Daily FX Technical Analysis and Strategy
EUR/USD: Ranging – Investors are reluctant to drive EUR/USD strongly in either direction. Price emerged briefly through 1.2960 though is still lacking follow through.
FX Daily Majors
Today’s highlights: – EURUSD: Prod above 1.2960 is capped at 1.2970 for now but broader recovery risk still intact whilst above 1.2803/1.2740 support zone for 1.3172.
Technical Analysis
The aussie seems to be the prevailing underdog now, with SEK & potentially also the GBP set to continue to underperform… EURUSD is stuck in range and FIRMLY outside outside 1.2820-1.2970 is needed to see a directional tilt…
FX Daily Majors
Today’s highlights: – EURUSD: Support found at 1.2803 trendline support ahead of the 1.2740 38.2% retracement. We expect a breakout above 1.2838 to allow for risk up to 1.3048 initially, then 1.3172.
Daily FX Technical Strategy: AUD look out
At the start of a new quarter, the AUD is taking centre stage. AUD/NZD appears to have completed a huge Head and Shoulders top and conservatively threatens to revisit its 2011 low.
FX Daily Majors
Today’s highlights: – EURUSD: Reversal on Friday from resistance found at 1.2838 turns the focus lower to the 1.2740 38.2% retracement which is expected to hold.
USDCAD beats a retreat after headfake
USDCAD pushed higher through the longer term flat resistance line at 0.9800 and even briefly through the shorter term area close to 0.9850 recently, but failed to hold higher.