The Canadian dollar rose marginally yesterday but failed to maintain its gains above the resistance level of the psychological barrier 1.3500, as the current movements witness stability below it. Technically, we find the 50-day simple moving average trying to push the price to the upside, and we find the RSI …
Read More »CAD losing momentum 10/5/2023
The technical outlook remains unchanged, and the pair’s movements did not change significantly, maintaining negative stability below the resistance level of the psychological barrier of 1.3400. Technically, and by looking closely at the 4-hour chart, we find that stochastic provides negative signals, motivated by the continuation of the negative pressure …
Read More »CAD: negative pressure exists 9/5/2023
Significant negative trades dominated the movements of the Canadian dollar during the first trading sessions of this week within the expected negative outlook, touching the bearish target that should be achieved at 1.3310, recording the lowest at 1.3313. Technically, the support levels posted at 1.3315 limited the bearish bias and …
Read More »CAD is waiting for a further decline 8/5/2023
The Canadian dollar declined significantly to incur significant losses, surpassing the bearish target published in the previous report at 1.3510. It is now settling around its lowest level during today’s morning session 1.3370. Technically, and with a closer look at the chart, we find that the simple moving averages returned …
Read More »CAD retests support 4/5/2023
Positive trades dominated the movements of the Canadian dollar during the previous trading session after it succeeded in breaching the resistance level of 1.3585, which is hovering around at the moment and starts with negative pressure on the mentioned level. Technically, and when looking closely at the chart, we find …
Read More »CAD retests support 3/5/2023
It is hovering around its highest level during the current session at 1.3615. Technically, and with a closer look at the chart, the simple moving averages continue to support the daily bullish price curve. On the other hand, signs of negativity began to appear on the stochastic indicator, which started …
Read More »CAD is facing temporary negative pressure 28/4/2023
The Canadian dollar approached the first target during the previous trading session at 1.3650, recording its highest level at 1.3645. Technically, and by looking at the 4-hour chart, we renew that the pair started to exit from the ascending channel, and we find that the relative strength index started to …
Read More »CAD trying to maintain the bullish path 27/4/2023
The bullish trend still dominates the Canadian dollar’s movements, with a gradual rise to the upside within the expected bullish context. However, it reached its highest level, around 1.3650 resistance, which succeeded in limiting the bullish bias. Technically, the bullish trend is still the most preferred, relying on trading stability …
Read More »CAD achieves the bullish goals 26/4/2023
As we expected, the Canadian dollar provided a noticeable rally during the previous trading session to touch the required bullish targets at 1.3590 & 1.3620, recording its highest level at 1.3647. Technically, the bullish trend is still the most preferred, relying on building a good support floor around the previously …
Read More »CAD maintains the same technical conditions 25/4/2023
The technical outlook remains unchanged, and the pair’s movements did not change, trying to maintain positive stability, as we mentioned during the previous analysis. Technically, the pair confirmed the breach of the resistance level of 1.3500, which turned into a support level according to the concept of role exchange, and …
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