Only charts

Usdcad broke the resistance at 1.3130 and now trading at 1.32 , the pair is trading in an upper rising channel. It could hit the upper side of the channel at 1.3270 this week and start a correction from there. If you are short usdcad and in a losing position , you can wait for the correction which might get as low as 1.3050. My previous analysis for the pair turned out to be wrong .

Usdcad has lost over 1000 pips over the last few weeks. Maybe it has paused for a while and recover to test the trend line shown in the below chart whih may be around 1.26 and the 200 MA lies at 1.2540 ... So you can jump in selling again at this area targeting 1.2460 and 1.2380..

The pair has been on the run during the past few weeks and stabilising on daily and weekly basis. On the hourly time frame , The pair is supported at the area of 0.9510 and will probably looking for a move higher but it will be still bounded by the bearish trend line formed on the 4h chart. The pair also has a supportive trend line on the 4h chart , so I prefer breaking out higher and trading above 0.96 figure all the way to 0.9680 area. A close below 0.95 on the 1h chart is warning and a close below the trend line on the 4h chart is an invalidation of the trade.. Happy trading Remember to follow me on twitter for more trading ideas and updates on this trade and more ..

USDCAD has been trading in an uptrend channel for the last 7 0r 8 trading days . After the us fed declared that the economy is still in pace and working fine with employment figures and wages . No assessment of the inflation has been mentioned so the dollar reversed the gains momentarily. Of course , personally believe that charts rule and the fundamentals are just the catalyst. Fundamentala come out at the perfect time to make the markets move in the right direction. Anyway , as below screenshot of #usdcad chart on the 4h time frame , the pair is holding above the 200 MA and first area of support lies around 1.3130 area , the pair ia expected to fall to this area and beyond after breaking the channel.