Canadian Dollar: USD/CAD (CAD=X) rallies towards previous highs



USD/CAD has been rebounding over the early part of the week, with the price moving closer to the previous peak of $1.3445.

The ability to break through that level will provide us with a lot of information, given the recent question marks that come with the break below $1.3182 earlier this month. As such, a break above $1.3445 would provide a continuation signal, yet until that break happens, there is a chance we could fall lower to raise doubts once again.

Overall, the bias in prices is: Upwards

By the way, prices are vulnerable to a correction towards 1.31.

The projected upper bound is: 1.35.

The projected lower bound is: 1.32.

The projected closing price is: 1.34.



Momentum Indicators


Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 73.9581. This is not an overbought or oversold reading. The last signal was a sell 19 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 60.59. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 119 period(s) ago.

Commodity Channel Index (CCI)




Rex Takasugi – TD Profile

FOREX CAD= closed down -0.002 at 1.337. Volume was 82% below average (consolidating) and Bollinger Bands were 6% wider than normal.

Open High Low Close Volume___
1.339 1.340 1.337 1.337 15,842

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1.33 1.32 1.30
Volatility: 8 7 8
Volume: 82,231 88,114 88,355




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