Exchange rates

USDCAD

Delayed 10:20:28 17/06/2024 am IST			5-day change	1st Jan Change
1.374 ^CAD	+0.05%		-0.14%	+3.75%

14/06	CANADA FX DEBT-C$ posts weekly gain, with BoC rate cuts seen priced in	RE
14/06	Canada Wholesale Sales Rise 2.4% in April	DJ

USD/CAD Breakout; FIRST Target is above 1.1000

January 08, 2014 at 04:10 am IST

MarketScreener.com By

Daily

eliottWaves_usdcad_body_Picture_5.png, USD/CAD Breakout; FIRST Target is above 1.1000

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDCAD has broken out. The breakout is valid as long as price is above today’s low of 1.0650). This market is one of my ‘top opportunities’ for 2014.

-There is no ‘chart resistance’ until the May 2010 high of 1.0853. Measured objectives are 1.1035 (Aug 2009 high is at 1.1124) and 1.1682 (Jul 2009 high is at 1.1724). We will watch channels as well.

-Just broken highs at 1.0730/40 are now possible supports.

Trading Bias: Stay long, stop moved up from 1.0550 to 1.0640, targets 1.10 and 1.17 and will likely be adding to the trade as market action dictates.

LEVELS: 1.0650 1.0680 1.0726 | 1.0854 1.1035 1.1157

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

original source

Latest news about USD / CAD

CANADA FX DEBT-C$ posts weekly gain, with BoC rate cuts seen priced in	15/06	RE
Canada Wholesale Sales Rise 2.4% in April	14/06	DJ
Canada Factory Shipments Rise 1.1% in April	14/06	DJ
Scotiabank Comments on The Canadian Dollar	14/06	MT
US Dollar Rises Early Friday Ahead of Import Prices, Michigan Sentiment, Fed Appearances	14/06	MT
BMO Notes Canada's Growing Federal Debt	14/06	MT
Canadian Borrowers Show Increasing Signs of Strain as Rates Bite	14/06	DJ
CANADA FX DEBT-Canadian dollar weakens as greenback posts broad-based gains	14/06	RE
Bank of Canada Official Says QE Helped Lift Growth By As Much As 3% -- 2nd Update	13/06	DJ
Bank of Canada Official Says Stagflation Risks Have Dissipated	13/06	DJ
Desjardins Comments on Bank of Canada's Remarks on QE, QT	13/06	MT
Rosenberg Research Sees Bank of Canada Cutting Rates Four Times By End Year	13/06	MT
Bank of Canada Official Says QE Helped Lift Growth By As Much As 3% -- Update	13/06	DJ
Bank of Canada Official Says QE Helped Lift Growth By As Much As 3%	13/06	DJ
Bank of Canada reviewing extraordinary actions taken during pandemic	13/06	RE
Canada Household Debt Eases as Growth in Disposable Income Again Outpaces Rising Credit Market Debt	13/06	DJ
Canada's Household Debt-to-Income Ratio Falls in Q1, as Expected; Household Q1 Net Worth Up 3.3% Q/Q	13/06	MT
Scotiabank Notes Bank of Canada Speakers Later Thursday	13/06	MT
TSX futures dip as investors digest US Fed's rate outlook	13/06	RE
Bank of Canada Gov. Macklem : Still Need to Get Inflation Closer to Targets -- Update	13/06	DJ
Bank of Canada head says can still diverge from Fed on rates	13/06	RE
BANK OF CANADA GOVERNOR TIFF MACKLEM REITERATES THAT THERE IS A…	13/06	RE
Bank of Canada Gov. Macklem : Still Need to Get Inflation Closer to Targets	13/06	DJ
CANADA FX DEBT-C$ pares gain as Fed sees just one rate cut this year	13/06	RE
Canadian Dollar Struggles on Crosses as North American Currencies Underperform	12/06	MT