Bearing the Fruits of USDCAD’s Selloff

Earlier this month, on May 5th, USDCAD fell just 7 pips short of the 1.3800 mark and it looked like it is only a matter of time before the pair breaches this round figure. Then, the bulls suddenly got tired and their next attempt to lift the dollar to a new multi-month high against the Canadian dollar…

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Ahead of the Plunge in USDCAD

Ten days ago, on April 4th, USDCAD was hovering around 1.3450. Yesterday, the pair fell to as low as 1.3223, before recovering to 1.3338. As traders, we are interested in the reasons behind that 230+ plunge and how to be prepared for it next time. Should we watch Trump, who just said the dollar was…

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USDCAD’s Surprising Surge Explained

USDCAD closed at 1.3028 on Friday, February 3rd, continuing the decline from 1.3387, which began in mid-January. So, if you have been expecting more weakness this week, nobody can blame you. After all, trading in the direction of the trend is a viable strategy. However, even the strongest trend is interrupted by an occasional correction from…

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Avoiding USDCAD’s Treacherous Traps

If you have been following USDCAD, you would agree that this week is nothing like last week. Between January 17th and 20th, the pair rocketed from as low as 1.3018 to as high as 1.3387. Just when it looked like the bulls are unstoppable, USDCAD reversed to the downside to lose over 330 pips at…

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GBPCAD Threatens to Kill Late Bears’ Profits

It has been over two and a half months since our last post about GBPCAD, called “Not the Time to Join the Bears in GBPCAD”. The title speaks for itself – while the pair was trading near 1.6290 on October 31st, 2016, we thought a significant recovery should be expected, before the downtrend resumes. But…

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USDCAD: Elliott Wave Useful, Even When Wrong

USDCAD bulls must be having a good time. The pair has been adding pips faster than a speed train in the last three trading weeks, climbing from 1.3080 on December 14th to almost 1.3600 as of today. Unfortunately for us, this is not going to be one of those articles, where we explain that the…

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USDCAD Elliott Wave Analysis and the U.S. Election

Just like virtually any other currency pair, USDCAD was subject to increased volatility after the U.S. election results came out. The rate registered a low of 1.3263, but swiftly climbed to 1.3524, when it became clear that Donald Trump was going to be the next president of the United States. But even if you could…

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Not the Time to Join the Bears in GBPCAD

The Pound Sterling has been the biggest loser among all other major currencies in 2016, so it no surprise it has falling sharply against the Canadian dollar, as well. GBPCAD was hovering close to 2.1000 in August, 2015, but after a series of crashes and selloffs it is currently trading below 1.6300. However, selling just because…

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USDCAD Moves Like It Is Programmed

The week did not start well for USDCAD, which declined to 1.3139 on Monday, October 10th, but the bulls managed to regroup and pushed the pair back up to 1.3306 so far. It looks like the rate is going to reach a new multi-month high soon. However, it is a little hard to profit from…

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EURCAD on the Brink of a 700+-Pip Crash

The last time we wrote about EURCAD was on May 5th, 2016, while the pair was trading around 1.4660. In “EURCAD Elliott Wave Dissection” we thought a three-wave (A)-(B)-(C) zig-zag correction was in progress, so we were expecting a decline in wave (B), followed by another rally in wave (C). The chart below is a…

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USDCAD Bulls Should Have Seen the Warning

Last Friday, USDCAD climbed to 1.3247 and despite this week’s attempts to reach this level again, the best the bulls were capable of was 1.3242. Instead of continuing higher after two weeks of steady gains from 1.2822, the pair lost over 200 pips and is currently trading near 1.3040. Most people would say that the Fed’s…

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USDCAD’s Elliott Wave “Road Map”

USDCAD has been rather boring recently. The pair has been moving sideways for several months now, locked between 1.3250 and 1.2660 since May. Such behavior could easily annoy traders, who are waiting for a clear trend to join. Boring or annoying, however, does not mean that USDCAD has been unpredictable. The following chart first emerged…

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USDCAD Forecast Still Valid After Two Months

USDCAD reached 1.3187 in May, but then fell to as low as 1.2654 by June 8th. However, the pair recently took out the top at 1.3187 and managed to climb to 1.3251. Our purpose is not to explain why did this happen, but to demonstrate that with the proper forecasting method and the ability to…

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USDCAD With an Incredible Development

USDCAD is back to the upside. After bottoming at 1.2654, the pair is once again looking bullish just a day after it climbed to 1.3090. But simply being able to identify the support and resistance levels does not mean we could correctly predict the market swings. In order to do so, we would need something…

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USDCAD’s Plunge Not Surprising At All

It was June 2nd, when USDCAD climbed to 1.3142 and it looked like it was only a matter of time for the pair to reach a new high above the previous one at 1.3187. But instead of continuing higher, the exchange rate reversed sharply to the south and, as a result of a steep sell-off,…

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