Canadian Dollar Price Outlook: USD/CAD Recovery Eyes Trend Resistance

• USD/CAD price recovery targeting resistance – risk for possible topside exhaustion

  美元/加元价格回升目标阻力 - 可能出现上行疲惫的风险

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• Check out our 2019 projections in our Free DailyFX USD Trading Forecasts

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• Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT

  加入Michael参加Live Weekly Strategy网络研讨会星期一中午12点30分

The Canadian Dollar is on the defensive with the recent US Dollar recovery taking USD/CAD within striking distance of multi-week downtrend resistance. These are the updated targets and invalidation levels that matter on the USD/CAD charts. Review this weeks Strategy Webinar for an in-depth breakdown of this setup and more.

加元受到阻力，近期美元经济复苏CAD在多周下行阻力位的惊人距离内。这些是美元/加元图表上重要的更新目标和失效级别。回顾本周的策略网络研讨会，深入了解此设置及其他内容。

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USD/CAD Price Chart - Daily

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Technical Outlook: In my latest Canadian Dollar Price Outlook we noted that the advance was, “targeting confluence resistance at 1.3357/63- a region defined by the median-line of the descending pitchfork formation extending off the May highs, the 38.2% retracement of recent sell-off, the May swing low and near-term up-channel resistance.” A topside breach on Friday fueled a weekly close just below the 1.3435/37 pivot zone with trendline confluence just higher around ~1.3460s – were looking for possible exhaustion off one of these two zones.

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USD/CAD 120min Price Chart

美元/加元120分钟价格走势图

Notes: A closer look at Loonie price action shows USDCAD holding within the confines of an descending pitchfork extending off the May highs and the risk remains weighted to the downside while within this formation. Interim support rests back at 1.3357/63 with a break below the median-line needed to mark resumption of the broader June decline targeting 1.3258 & 1.3175/98. A topside breach would keep the focus on subsequent resistance objectives at 1.3495 & 1.3537.

注意：仔细观察Loonie价格走势显示美元兑加元在5月高点和下跌的干草叉范围内持有在此形成期间，风险仍然偏向下行。临时支撑位于1.3357 / 63，突破了下行中线所需的区间线，以恢复6月份广泛下跌的目标1.3258和1.3175 / 98。上行突破将使后续阻力目标集中在1.3495和1.3537。

Learn how to Trade with Confidence in our Free Trading Guide

了解如何在我们的免费交易指南中自信交易

Bottom line: The USD/CAD recovery is now approaching technical resistance targets into 1.3460 and we‘re looking for signs of exhaustion in this zone. From a trading standpoint, look to reduce long-exposure / raise protective stops on a move towards the upper parallels – we’ll be looking for a reaction there IF reached. Review my last Canadian Dollar Weekly Price Outlook for a longer-term technical picture on USD/CAD.

结论：美元/加元的复苏目前接近技术阻力目标1.3460，我们正在寻找该区域的疲惫迹象。从交易的角度来看，寻求减少长期暴露/提高保护性止损向上方平行 - 我们将寻找IF达到的反应。查看我上一次加拿大元每周价格展望，了解美元/加元的长期技术图片。

USD/CAD Trader Sentiment

USD / CAD Trader Sentiment

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• A summary of IG Client Sentiment shows traders are net-short USD/CAD - the ratio stands at -1.86 (35.0% of traders are long) –bullish reading

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• Long positions are 13.4% higher than yesterday and 23.8% lower from last week

  多头头寸比昨天增加13.4％，比上周减少23.8％

• Short positions are 26.9% higher than yesterday and 65.3% higher from last week

  空头头寸比昨天增加26.9％，比上周增加65.3％

• We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/CAD prices may continue to rise. Traders are further net-short than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias from a sentiment standpoint.

  我们通常采取逆向观点来看待人群情绪，事实上交易者是净-S hort暗示美元/加元的价格可能继续上涨。交易商进一步净空至昨日和上周，当前定位和近期变化的结合使我们从情绪的角度看美元/加元反对交易偏向走强。

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Relevant US / Canada Data Releases

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Economic Calendar - latest economic developments and upcoming event risk. Learn more about how we Trade the News in our Free Guide!

经济日历 - 最新经济发展和即将发生的事件风险。详细了解我们如何在免费指南中交易新闻！

Active Trade Setups

有效交易设置

• Euro Price Outlook: EUR/USD Breakout Stalls – Trade Levels to Know

  欧元价格展望：欧元/美元突破停滞 - 需要知道的交易水平

• Gold Price Outlook: XAU Plummets from Yearly Highs- Bulls Eye Support

  黄金价格展望：XAU从年度高位暴跌 - 公牛眼支持

• New Zealand Dollar Price Outlook: Kiwi Fails Flight into Resistance

  新西兰元价格展望：新西兰元未能进入抵抗状态

- Written by Michael Boutros, Currency Strategist with DailyFX

- 由DailyFX货币策略师Michael Boutros撰写