USD/CAD

Thanks i believe so as well also negative non farm payrolls will this trend make a correction in the following days selling from 1.290 and didn' expect it will break another high can some1 advice technical analysisforcast for this pair i want to know if i should wait on this or not
 
atawil said:
Hi

Can anyone give technical analysis explanation about why USDCAD kept trending high the past 3 days
More...

http://business.financialpost.com/n...-from-here-as-bank-of-canada-stresses-caution

https://investingnews.com/daily/res...-investing/trump-advisor-buy-dollar-not-gold/

https://www.reuters.com/article/us-...-challenge-for-fed-chief-powell-idUSKCN1FY2IC

These are the events that's driving down USD/CAD atm, not technical factors. Technical analysis all go out of the door in the face of news like these.
 
atawil said:
Thanks i believe so as well also negative non farm payrolls will this trend make a correction in the following days selling from 1.290 and didn' expect it will break another high can some1 advice technical analysisforcast for this pair i want to know if i should wait on this or not
More...

It may go higher depending on what Fed says after raising int. rate next week. Better cover your shorts when it drops down a bit or hedge.
 
I`ve looked over this Pair just a few days ago as it happens - Well after taking a look at the UsdCad Pair through my Chart View & these are my finding - UsdCad Pair Spot Price 1.2835 Buy Hold would be my opinion here - With A Good Support Level Allocated at 1.2807 - Price is head in an Uptrend Direction towards Monthly Chart high at 1.5024 Price is at the start of the H4 Chart Breakout Trend High from 1.2249 & Heading towards 1.4930 H4 chart High - Near the Monthly Chart Cycle High at 1.5024 of course adding to any Overbought Value which may apply to Price so should relate to within 100 pip more at full extended level High. I hope that you find this piece helpful
 
Everything went in favor of the Canadian dollar: the US removed a key demand that blocked the NAFTA negotiations, the Federal Reserve made a dovish hike (no upgrade in the dot-plot), oil prices went higher and last but not least, inflation is on the rise in Canada. Together with the official exemptions from steel and aluminum tariffs from its southern neighbor, USD/CAD made a huge turn. The direction of for is bearish in search of the 1.26
 
Atawil, I do have a technical explanation for the three days. USD/CAD was in a 5th wave of a C wave of an X wave. I have included a chart. Hopefully, the chart is useful.
USDCAD 03-27-2018 Wave C of Wave X.png
 
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