Last week’s shooting star candle of Friday was once again confirmed yesterday as the usd to cad pair continues its inexorable slide lower, this time breaking below the key support level below the current region of consolidation – not a good signal for US dollar bulls – with the pair finally breaking throught the floor [...]

The relatively wide spread down bar of last week confirmed the bearish signal of the previous week which provided a shooting star candle with failure to penetrate the resistance at 1.30 once again.  Last week’s closing price finished just below the 9 week moving average and just above the 14 but with the two now [...]

A look at last week’s candle chart for the usd to cad currency pair confirms what we already know in that the 1.3000 handle is providing strong resistance to any move higher by the pair and this has been further confirmed by this morning’s price action with the pair falling back once again.  The candle [...]

The weekly candle chart for the usd to cad currency pair, reveals little new detail, other then to reinforce how important the 1.3000 region has now become, and that at move higher will have to break through this level. With three previous failed attempts to move higher we really do have to be patient and [...]

After several weeks of consolidation in a relatively narrow trading range as shown on the weekly chart, we could be seeing the first sign of a breakout to the upside this morning, with a gap up on the opening and a move higher, with the 1.2800 region now providing some solid support to any retest [...]

The usd to cad currency pair continue their inexorable consolidation move, with the pennant pattern on both the weekly and the daily chart becoming ever stronger. Last week saw yet another doji candle, with the upper wick touching the upper trend line, as for the week before. Until we see a breakout from this pattern [...]

I have expanded the scale on this week’s usd to cad chart to highlight the strong pennant pattern which is now forming, as a result of lower lows and lower highs on each candle of the last few weeks. This is now a strong signal that we can expect a breakout soon, with the point [...]

Technical analysis of the weekly candle chart for the usd to cad currency pair, tells us little I’m afraid that we don’t already know! The currency pair are trading sideways, and last week’s hanging man, following the shooting star has done nothing to clarify the direction for the next few weeks, other than more of [...]