USDCAD Analysis Feb 2020

10-Feb-2020

CMP: 1.3297; Res: 1.3334; Sup: 1.3289/1.3278
If the down trendlines break and the above support levels break, we can see 1.3263, 1.3226.

04-Feb-2020

CMP: 1.3290; Res: 1.3383/1.3661; Sup: 1.2951/2055
If 1.3383 resists, we will see big fall towards 1.2951 fist and further 1.2731-1.2673-1.2577.

USDCAD: Downside correction? 30-Jan-2020

CMP: 1.3211; Res: 1.3225; Sup: 1.2951
If 1.3225 resists, we can see downside correction towards 1.3160, 1.3120, 1.3088, 1.3056, 1.3031...

USDCAD: Is top in place? 28-Jan-2020

CMP: 1.3190; Sup: 1.3173
As of now res is at 1.3208. If resists and a break of 1.3173, we can see 1.3150, 1.3127, 1.3091...

USDCAD: Are we nearing top? 27-Jan-2020

CMP: 1.3183; Sup: 1.2951/1.3032
As per the Hourly Chart, I suppose, we are nearing top. Upside normal target 1.3186-1.3222. Extension can be 1.3281-1.3304.
But I expect reversal between 1.3186-1.3222. Let us wait and see how this is going to unfold.

Reversal downside target can be 1.3150-1.3127 initially. Normal target 1.3091-1.3030.

USDCAD: Are we in upside correction? 22-Jan-2020

CMP: 1.3077;Res: 1.3105; Sup: 1.3051/1.3044.
As long as 1.3044 supports, we cna see 1.3103, 1.3139, 1.3162, 1.3198

USDCAD: Trade Ideas: Buy above 1.3075? 20-Jan-2020

CMP: 1.3070; Sup: 1.3055/1.3029; Res: 1.3075/1.3105;
Break of 1.3075, we will see 1.3105 first, further 1.3139-1.3155...

USDCAD: Long Term Bull OR Bear? 18-Jan-2020

CMP: 1.3068; Res: 1.3189/1.3334/1.3664; Sup: 1.3016/1.2951
As long as 1.3189/1.3334 resists, we can see 1.2735-1.2674, 1.2582-1.2531 positionally.

BASE SUPPORT: 1.2062; RESISTANCE: 1.3664

USDCAD: More down can be seen 13-Jan-2020

CMP: 1.3054 Res: 1.3334/1.3389/1.3664; Sup: 1.2945/1.2055

As long as the above resistances hold, we will see 1.2983 again and further 1.2863, 1.2735-1.2674-1.2582, 1.2531...

Strategy: Sell on rise with max SL 1.3334.

FOREX: USDCAD Analysis 03-Nov-2017

CMP 1.2742

Sup: 1.2061/0.9406/0.9056
Res: 1.3793/1.4689

Have completed correction at 1.2061?

Note:
Guideline 3: After a 5-wave impulse advance, corrections (abc) usually end in the area of prior Wave 4 low.
Support zone: 1.2833-1.1919, Made low 1.2061 till now. If break 1.2061, we can see 1.1564, 1.1424, 1.0954.

Break of 1.4689, Long Term targets: 1.5876, 1.6460, 1.7404, 1.8724, 1.9875.

If 1.2061 is the end of correction, we can see 1.3301-1.3380, 1.3683-1.3793-1.3837 positionally.

Thanks.