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CAD Technical Evaluation Overview: USDCAD, CADJPY, EURCAD

CAD Evaluation and Speaking Factors

USDCAD | Checks Key Help

CADJPY | Extends Bounce Off Rising Trendline

EURCAD | Pattern Stays Bullish Above Pivotal 1.50

See our This fall FX forecast to study what is going to drive the foreign money by means ofout the remainder of the yr.

USDCAD | Checks Key Help

After failing to succeed in the highest of the rising channel, USDCAD is testing the help zone at 1.3180-1.32, whereas the bearish divergence on the Relative Power Index means that we might see a short-term dip. A break under will increase scope for a transfer in direction of 1.3115, which marks the 23.6% Fibonacci retracement of the 1.2249-1.3386 rise. Nonetheless, momentum indicators counsel that the bias stays tilted in direction of additional upside albeit this has moderated in current periods. On the upside, little is seen in the way in which of notable resistance earlier than the 1.34 deal with.

USDCAD PRICE CHART: Every day Time Body (Dec 2017 – Nov 2018)

CAD Technical Analysis Overview: USDCAD, CADJPY, EURCAD

Chart by IG

CADJPY | Extends Bounce Off Rising Trendline

CADJPY has continued to increase on positive aspects after respecting the rising trendline from the March and June lows. The rise was additional exacerbated by the breach above the 200DMA (85.30). Though positive aspects could also be capped with topside resistance located on the 86.00 deal with, whereas 86.07 represents that 50% Fibonacci retracement of the drop from 91.58-80.561.

CADJPY PRICE CHART: Every day Time Body (Dec 2017Nov 2018)

CAD Technical Analysis Overview: USDCAD, CADJPY, EURCAD

Chart by IG

EURCAD | Pattern Stays Bullish Above Pivotal 1.50

A slight pullback noticed in EURCAD, nevertheless, promoting has been curbed on the 100DMA (1.5050). Whereas the development stays modestly bullish above the pivotal 1.50 deal with. As such, eyes stay on the 1.52 deal with, whereby a break above opens up a transfer in direction of the descending trendline at 1.5250. Momentum indicators affirm additional upside is on the horizon, though this has moderated.

EURCAD PRICE CHART: Every day Time Body (Mar– Nov 2018)

CAD Technical Analysis Overview: USDCAD, CADJPY, EURCAD

Chart by IG

— Written by Justin McQueen, Market Analyst

To contact Justin, e mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX


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