The previously mentioned support level at 1.3815 successfully contained the bearish momentum that emerged at the start of the last trading session. From a technical perspective, the trend is leaning towards positivity. The 50-day simple moving average continues to support the potential for an upward movement. Intraday trading maintains stability …
Read More »CAD May Extend Its Gains 30/10/2023
As anticipated in our previous technical report, the Canadian dollar successfully reached its upward target at 1.3880, marking its peak at this level. From a technical perspective, a positive outlook persists, supported by the 50-day simple moving average and stable intraday trading above the 1.3815 support level. As long as …
Read More »CAD retests support 27/10/2023
Positive trading continued to control the movements of the Canadian dollar during the previous trading session, heading to visit the first official target to be achieved yesterday at the price of 1.3845, recording its highest level of 1.3845. Technically, we are leaning towards positivity, relying on trading stability above the …
Read More »CAD touches rising targets 26/10/2023
The Canadian dollar jumped and achieved significant gains yesterday, as we expected. It reached the official target station at 1.3815 and recorded its highest level at 1.3818. Technically, we are leaning towards the positive, relying on the pair’s success in establishing a good support ground around 1.3760. In addition, the …
Read More »CAD is stable above support 25/10/2023
Positive trading regained control of the Canadian dollar’s movements yesterday after consolidating above the strong resistance at 1.3715, recording its highest level at 1.3754. On the technical side today, we are leaning towards positivity in our trading, relying on the regularity of work within the ascending price channel shown on …
Read More »CAD press support 24/10/2023
Positive trades dominated the Canadian dollar’s movements yesterday. The currency was a few points away from the target it needed to achieve during the previous session, at 1.3745, and recorded its highest level at 1.3736. Technically, we are leaning towards negativity in our trading, relying on the beginning of pressure …
Read More »CAD trying to be positive 23/10/2023
Trading tended to be positive during the previous trading session, following the gradual upward path we expected, recording its highest level at 1.3734. Technically, with the pair’s success in stabilizing above the previously breached resistance at the price of 1.3680, in addition to the positive incentive coming from the simple …
Read More »CAD breaks through the resistance 19/10/2023
Positive trades dominated the Canadian dollar’s movements, reflecting the downward trend we expected. We relied on trading stability below 1.3700. As a reminder, we indicated that moving upwards and consolidating above 1.3700 would immediately stop the expected downward trend. The pair would recover to retest 1.3740, recording its highest level. …
Read More »CAD hit the resistance 18/10/2023
During the previous trading session, the Canadian dollar’s movements witnessed a temporary upward tendency. However, it clashed with the pivotal resistance level at 1.3700 published in the last technical report and failed to breach it. Technically, the pair found it difficult to break through the resistance of the psychological barrier …
Read More »CAD settled below resistance 17/10/2023
Negative trading dominated the movements of the Canadian dollar yesterday within the bearish context expected during the previous report, approaching by a few points from the desired target of 1.3590, recording its lowest level of 1.3605. Technically, we find the pair hovering around the 1.3660/1.3650 resistance level, unable to penetrate …
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