Technical Analysis

CAD Technical Evaluation Overview: USDCAD, EURCAD, CADJPY

CAD Evaluation and Speaking Factors

USDCAD | Topside Resistance Break Wanted for 1.34

EURCAD | Topside Resistance Recommend Upside Restricted

CADJPY | Shifting Common Helps, Pattern Stays Bearish

See the DailyFX Q1 FX forecast to study what’s going to drive the forex viaout the quarter.

USDCAD | Topside Resistance Break Wanted for 1.34

USDCAD has not appeared again having bounced off assist from the 200DMA halfway via the week. As such, a closing break above 1.3350 could be wanted to boost scope for a contemporary leg greater in the direction of 1.34. Eyes on 50DMA which may cap upside, because it did late January. Momentum indicators stay bullish, albeit this has eased, following yesterday’s sizeable features, potential for pullback. Close to-term assist resides at 1.3280 and 1.3220.

USDCAD PRICE CHART: Day by day Time Body (Apr 2018 – Feb 2019)

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

EURCAD | Topside Resistance Recommend Upside Restricted

Whereas EURCAD hovers round 1.51, a lot of yesterday’s worth motion had been considerably corrective. As such, given the cluster of DMAs forward (1.51-1.52), additional upside might be considerably restricted, which in flip shifts focus in the direction of a possible pullback in the direction of 1.50 and 1.49. Nevertheless, bearish momentum might be negated considerably if EURCAD sees an in depth above 1.5150-60.

EURCAD PRICE CHART: Day by day Time Body (Feb 2018– Feb 2019)

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

CADJPY | Shifting Common Helps, Pattern Stays Bearish

The 50DMA elicits assist for the cross, nevertheless, resistance from the 50% Fibonacci retracement (83.23) may cap worth motion. Alongside this, the broader pattern continues to tilt to the draw back amid the collection of decrease highs, whereas momentum indicators additionally counsel a weak outlook. Key assist resides at 81.25.

CADJPY PRICE CHART: Day by day Time Body (Aug 2016–Feb 2019)

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

G10 FX Technical Evaluation Overview

— Written by Justin McQueen, Market Analyst

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

Comply with Justin on Twitter @JMcQueenFX


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