Posts tagged 'USDCAD'

GBPCAD – Positive break not maintained
GBPCAD – Positive break not maintained14th October 2018

Updated 29th October.Contrary to the bullish signals generated 2 weeks ago, investor demand for GBPCAD could not be maintained. Instead selling interest was renewed  with last week's decline being the most negative GBPCAD performance since April. This is enough to reassert a Bearish bias with initial targets of 1.6574 and 1.6467.Last week saw solid gains in... read more

GBPCAD- Sentiment turns sharply positive
GBPCAD- Sentiment turns sharply positive25th September 2017

Last week's gains in GBPCAD were more modest than the previous week's upside but they were enough to confirm a change in investor sentiment to bullish.This is because this improvement took GBPCAD above the 21 week moving average for the first time in 3 months. Importantly that break confirmed a similar 'golden' cross of our RSI... read more

GBPCAD – Positive Signal Potential – updated
GBPCAD – Positive Signal Potential – updated22nd March 2017

Update - Monday 27th MarchAs mentioned last week the key level for this currency pair is/was the 21 week moving average and last week's demand has taken GBPCAD above that point. This confirms the positive cross already made in the RSI indicator with targets as below. I wrote last month about how there were warning signs for... read more

EURCAD – Sellers return to dominate
EURCAD – Sellers return to dominate20th October 2016

The positive move in EURCAD that we highlighted on these pages in September proved temporary. Sellers have returned over the last week and the focus has returned to the downside. The move above the 21 week moving average in the first week of last month confirmed the already bullish signals in the RSI indicator and subsequent upside took... read more

USDCAD – How Low can it Go?
USDCAD – How Low can it Go?3rd March 2016

The negative trend for USDCAD is nothing new. Its been the dominant feature of 2016 - countering the strong rise that marked the latter part of last year. The first 3 weeks of this year continued the gains but the turn since has been aggressive.A look at the chart below shows the strength of both trends.If... read more

USDCAD – 6 Year highs – still climbing
USDCAD – 6 Year highs – still climbing17th July 2015

The market failed to maintain Wednesday’s upside momentum yesterday. Instead some consolidation was seen was overbought extremes unwound at 6 year highs. But the setback was, as expected, minor and USDCAD soon found fresh buyers – posting a 2nd up day in a row. The limited nature of corrective moves highlights that the underlying tone remains... read more