Tag: USD/CAD

There seems to be more room for gains here by the US dollar from a technical point of view. Moving averages are below the price, with none except the 200 SMA having offered significant resistance in the second half of January, and the 50 SMA from Bands is about to complete its golden cross of…

From a technical point of view, the time appears to have come for another leg up by AUD. The consolidation for the past two weeks has taken price out of overbought and brought it close to the 38.2% area of the weekly Fibonacci fan. Volume remains relatively low, though, so waiting for a key event…

From a technical perspective, support around $1.35 has yet to be clearly broken. Despite the recent movement below both the 50 and 100 SMAs, selling volume remains low this week so far and we now have clear oversold signals from both the slow stochastic (15, 5, 5) and Bollinger Bands (50, 0, 2). Both of…

From a technical point of view, the key resistance around $1,900 has now clearly been broken. Moving averages also flipped back to a strong buy signal in the week before Christmas, with both the 50 and 100 SMAs golden crossing the 200. Buying in now looks like a significant risk, though, given clear overbought conditions…

The pound’s fall today has been quite dramatic on the chart, with none of the 50, 100 or 200 SMAs providing any clear support. However, buying volume has been unusually high for the time of year so far today, so there is clearly some demand to push sterling back up toward the value area at…

Despite the ongoing formation of a classic head and shoulders pattern which might complete over the next few periods, bulls focussing on the chart will have cheered last week’s golden cross over the 50 and 100 SMAs. A combination of both fundamentals, i.e. mainly sentiment, and TA is likely to be important over the next…

AUD retested the 38.2% area of the weekly Fibonacci fan last week without success, but the technical picture nonetheless remains positive. With price holding above the 50 SMA from Bands since late last month and no signs of overbought as of now from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5,…

The 100% weekly Fibonacci retracement area - i.e. full retracement of all the US dollar’s gains in the first quarter of 2020 - has been a crucial support for some weeks now. However, it now appears that this zone could be broken. The relatively large real body of the current period moving below the 100%…

Price has regained the 61.8% area of the daily Fibonacci fan as the main medium-term downtrend has resumed since the first week of November. Momentum has understandably been somewhat weaker around the critically important psychological support at Mex$20. A clear break to the downside would signal continuation lower, but the slow stochastic (15, 5, 5)…

From a technical point of view, a retest of the 100% weekly Fibonacci retracement area, in other words full retracement of the dollar’s gains at the end of Q1 2020, looks likely sooner or later. Although  volume has remained low since the middle of last week, the slow stochastic (15, 5, 5) has now emerged…