Technical Analysis

CAD Technical Evaluation Overview: USDCAD, EURCAD, CADJPY

CAD Evaluation and Speaking Factors

USDCAD | Pair Seems to be to Take a look at Psychological Resistance

EURCAD | Upside Momentum Stalling as Transferring Averages Curb Positive factors

CADJPY | Bearish Flip Persists

See the DailyFX Q1 FX forecast to be taught what’s going to drive the forex byout the quarter.

USDCAD | Pair Seems to be to Take a look at Psychological Resistance

The pair have continued to increase a transfer greater following final weeks bounce off the 200DMA. This in flip has now seen USDCAD make a topside breach of the vary that has been in place since late-Jan. Consequently, the pair is now eying a transfer in the direction of resistance at 1.3385-1.3400, during which a closing break may see a check of the 61.eight% Fibo at 1.3440. On the draw back, help resides at 1.33 and 1.3270 (100DMA)

USDCAD PRICE CHART: Day by day Time Body (Oct 2018 – Mar 2019)

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

EURCAD | Upside Momentum Stalling as Transferring Averages Curb Positive factors

Latest upside in EURCAD appears to be like to have stalled with the 50 (1.5126) and 200DMAs (1.5144) but once more placing a cap on additional features. Alongside this, momentum indicators are comparatively weak, which in flip could increase scope for a possible pullback in the direction of help at 1.5050. Nonetheless, supplied there’s a closing break above the 200DMA, focus may shift in the direction of a 1.53 check.

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

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

CADJPY | Bearish Flip Persists

Having rejected the 61.eight% Fibo on the 85.00 the bearish flip has persevered for CADJPY. Because the cross edges under the 100DMA, momentum indicators have continued to weaken, suggesting that losses may proceed to increase. Elsewhere, there may be little in the best way of notable help until 82.70 and 82.40.

CADJPY PRICE CHART: Day by day Time Body (Sep 2018–Mar 2019)

CAD Technical Analysis Overview: USDCAD, EURCAD, CADJPY

Chart by IG

— Written by Justin McQueen, Market Analyst

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

Observe Justin on Twitter @JMcQueenFX


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