The Canadian dollar maintains its negative trading after finding a strong resistance around 1.3740, forcing the pair to trade negatively, recording its lowest level below 1.3685. Technically, we notice the stability of trading below the support of 1.3680, accompanied by the negative pressure coming from the simple moving averages, which …
Read More »CAD: negative pressure is in place 15/3/2023
The Canadian dollar is facing negative pressure since the beginning of this week’s trading, as the movements of the previous trading session witnessed a bearish trend, recording its lowest level at 1.3650. Technically, we notice the beginning of the negative pressure at the support level of 1.3680, accompanied by the …
Read More »CAD outside the bounds of the bullish channel 13/3/2023
The Canadian dollar hit the resistance level of 1.3860 after attempting to approach the target mentioned in the previous report, 1.3890, to trade negatively again below 1.3780. Technically, the current movements are witnessing a bearish direction accompanied by the negative pressure of the simple moving averages, which returned pressure on …
Read More »CAD continues to work inside the bullish channel 9/3/2023
Positive trades dominated the movements of the Canadian dollar, as we expected, with a gradual rise to the upside, approaching a difference of a few points from the target to be achieved yesterday at 1.3830, recording its highest level at 1.3817. Technically, the bullish context is still the most probable, …
Read More »CAD breaks resistance and positivity remains 8/3/2023
The Canadian dollar returned to achieving gains after it ended the bearish slope and succeeded in building on the strong support floor of 1.3630, explaining that the price’s consolidation above 1.3630 completely invalidates the activation of the bearish scenario. The pair recovers, waiting for 1.3670 and 1.3700, respectively, to record …
Read More »CAD is facing negative pressure 7/3/2023
The Canadian dollar showed some bearish bias due to the rise in US crude oil prices, finding a strong resistance around 1.3630, which constitutes an obstacle to the continuation of the increase. From the point of view of technical analysis today, the stochastic indicator started to lose its bullish momentum …
Read More »CAD shows some negative features 3/3/2023
The Canadian dollar showed some bearish bias yesterday, affected by the rise in oil prices, and the pair is now hovering around the support level of 1.3575, trying to stabilize above it temporarily. Technically, the Canadian dollar is settling above the 50-day simple moving average, trying to push the price …
Read More »CAD sticks to the positivity 2/3/2023
The Canadian dollar’s movements tended to be positive during the previous trading session, recording a high of 1.3660 after achieving a significant build-up above the support level of 1.3575. Technically, expectations indicate the possibility of achieving more gains based on the positive motif from the 50-day simple moving average, which …
Read More »CAD maintains a gradual climb 24/2/2023
Technically, and by looking at the 240-minute chart, the pair maintains its stability above the 50-day simple moving average, which returned to carry the price from below, and we find the stochastic indicator trying to get rid of the intraday negativity. Therefore, the possibility of maintaining the quiet rise to …
Read More »CAD retests the moving average 23/2/2023
The Canadian dollar continues its efforts to complete the required rise within the expected bullish path during the previous trading session, approaching a few pips from our first target of 1.3580, recording its highest price at 1.3570. Technically, by looking at the 240-minute chart, the stochastic indicator entered the overbought …
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