Technical Analysis

CAD Technical Evaluation Overview: USDCAD, CADJPY, EURCAD

CAD Evaluation and Speaking Factors

USDCAD | 1.3450 Break Paves Manner for Additional Upside

CADJPY | Scope for 82.00 Following Trendline Break

EURCAD | Dangers of Pullback, Except Shut Above Trendline

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

USDCAD | 1.3450 Break Paves Manner for Additional Upside

USDCAD continues its upward trajectory, sticking in throughout the rising channel. Consequently, the outlook for pair is for additional upside with momentum indicators confirming this. Nonetheless, trendline resistance at 1.3450 has held for now, which noticed the pair pullback barely. Eyes might be on for a break above resistance, which may see USDCAD transfer to check June 2017 highs at 1.3550. On the draw back, assist within the pair is located at 1.3130.

USDCAD PRICE CHART: Each day Time Body (Oct 2017 – Dec 2018)

CAD Technical Analysis Overview: USDCAD, CADJPY, EURCAD

Chart by IG

CADJPY | Scope for 82.00 Following Trendline Break

Following the trendline break, CADJPY is more and more bearish with momentum indicators implying additional draw back is in retailer for the cross. As such, this has elevated scope for a transfer in the direction of the 82.00 deal with. On the draw back, assist is seen at 83.16, which marks the 23.6% Fibonacci retracement.

CADJPY PRICE CHART: Each day Time Body (Oct 2017Dec 2018)

CAD Technical Analysis Overview: USDCAD, CADJPY, EURCAD

Chart by IG

EURCAD | Dangers of Pullback, Except Shut Above Trendline

EURCAD broke out of its latest vary to breach above the descending trendline. Nonetheless, the cross did not consolidate above 1.53 or shut above the trendline, which in flip enhance dangers of a possible pullback. Alongside this, momentum indicators recommend that the pattern of the transfer to the upside is weak. Help is seen at 1.5090. For additional upside, eyes might be on for a detailed above the trendline at 1.5240.

EURCAD PRICE CHART: Each day Time Body (Jan– Dec 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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