USD/CAD Analysis
The USDCAD is going sideways and it now depends on oil, if oil keeps dropping, then the pair may try higher highs.
CAD is falling along with oil. No end at sight
The pair reached 1.4000 and bounced off that resistance but it's probably just a temporary retracement,
Yes, thank you for sharing.
The USDCAD pulls back to the downside, but the bullish trend is still in place. The rally on oil is helping the CAD, it may try to go and visit the 1.3800 level.
It bounced off the support at 1.3820 and it might reach 1.3940, but I doubt consolidation will end before the end of the holidays.
Expecting a move up.
I agree. Consolidation still continues, but the overall bullish trend is still valid.
Great rally on the USDCAD caused by the drop on oil. The 1.4100 may act as a temporary resistance, because if oil keeps dropping, there is no stopping this pair on its rally.
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The USD/CAD keeps its bullish trend, the next resistance may be the 1.3458 level and from there the price may try to stall or even break to the downside, but if oil keeps dropping, then we may see a breakout of that level. A breakdown of the bullish trendline may indicate a change in direction, but there are no important supports until the 1.2840 area.