USDCAD Technical Analysis – 20 24 May – Weekly Update – USD CAD Outlook Our last technical update noted that the USD/CAD currency pair had found support at the convergence of technical support around parity. This was comprised of the following technical elements. Ascending trendline support, which had initiated from the 2012 low. The 200-day SMA (simple moving average). The midpoint…
USDCAD Technical Update – Convergence Of Technical Support Around Parity The USD/CAD currency pair has found support at the convergence of technical support around the 1.0000 parity area. This is comprised of the following elements. Ascending trendline support, which had initiated from the 2012 low. The 200-day SMA (simple moving average). The midpoint of the last key…
USDCAD – US Dollar/Canadian Dollar – Technical Update – 29/3/13 The USDCAD pair has found near term support at a confluence area comprised of the ascending trend line and 38.2% Fibonacci retrace level (see D1 chart below). The low of today (28/3/13) came in around 1.0143, this is approx 45-pips above the next key technical…
USDCAD: Canadian Dollar Under Pressure On Commodity Prices – Reduced Financial flows Recent data from Canada revealed that Dec Retail Sales were lower than expected, at -2.1% versus the anticipated -0.3% level and Jan CPI dropped to +0.5% from the prior +0.8% reading in Dec. The increasing discount of Western Canadian oil (WCS), versus global benchmark…
USDCAD Technical Analysis – WC 4th January 2013 – Inside Day At Parity The USDCAD pair has retraced back to the 50% corrective level of the last swing higher and price is now aligned with the 200 day SMA (simple moving average). An inside day has formed just under parity after price was caught in…
USDCAD Technical Analysis – FX Price Action Update – 24/1/13 Loonie is testing the parity level following a high momentum upside day and associated 0.78% gain on the 23/1/13. This USDCAD rally came after the BOC advised there was no rush to raise interest rates and lowered its economic estimates. The USDCAD 1.000 level has…
Forex FX: USD/CAD Technical Analysis WC 26th November (Forex-FX-4x.com, US Dollar/Canadian Dollar Technical Report, 25th November 2012) – Recap of the recent USD/CAD price action: The US/Canadian dollar rate appreciated earlier in the month, but has subsequently edged lower. We note that price has moved to the downside after finding resistance just above parity. Our…
USDCAD Technical Analysis 9th November 2012 The USD/CAD printed a bullish engulfing/outside candle onWednesday (7th November) and has subsequently resumed the dominant recent trend to the upside. Technical analysts typically prefer to see these candle formations at swing lows; nonetheless, the close proximity to a key technical level will have caught the attention of USDCAD…
USDCAD Analysis – Loonie Trading At Parity And Confluence Range The USDCAD has posted a strong recovery since hitting the 0.9600 area lows in September and the Canadian dollar is now trading around parity with the US dollar. The CAD has depreciated almost 4% since its September high versus the greenback with lower oil prices…
USDCAD Hits Downside Confluence Target After Bearish Price Action– Correction Underway Our last update for the USDCAD (13th July) came as the Loonie was trading around 1.0170. Price had just formed a bearish pinbar candle, after piercing the 20 period SMA; however, our primary focus was the fact that currency correlation relative strength (see our…
Canadian Dollar Stronger Than US in Recent Trading – Price Action Analysis 13th July The Canadian dollar is stronger than its US counterpart over recent trading sessions and has outperformed its currency major rivals. The following 4 hour timeframe relative strength chart – where each point is derived from a four hour period – shows…
USDCAD Analysis – 10th July Forecast The USDCAD continued its upside move which began late last week and made its third consecutive daily high. The CAD dropped along with other commodity correlated currencies as policy makers once again got together in Brussels to work on a way forward for the euro-crisis. Concerns around Chinese inflation…
USDCAD Analysis – Loonie Approaching Major Technical Level – Technical notes for the upcoming 6th July trading sessions. The CAD dollar finished todays session virtually unchanged versus its U.S. counterpart but did lose out marginally. There has however been a near 240 pip drop over the last five trading sessions with falling oil prices and events…
USDCAD Trades Higher As Crude Downtrend Continues The price of USDCAD has dropped for the second consecutive day versus its U.S. counterpart amid ongoing speculation that the financial crisis in Europe will slow down world wide growth. The commodity currencies have seen downside pressure this week and demand for a safe haven has gained momentum….
USDCAD Analysis – 21–25th May Forecast The Canadian dollar has continued to drop versus its U.S. dollar counterpart as concerns relating to the Euro-zone have placed intense stress on the commodity currencies; this has manifested in the CAD, AUD and NZD seeing major downside. The selloff, precipitated by investors nervous about Greek government debt has seen a flight…
USDCAD Analysis May 14th – 18th The USD/CAD currency major came across resistance at the 1.0050 area highs we highlighted in the previous update. Stronger than anticipated Canadian jobs data had the USD/CAD plummeting under parity and dropping as low as 0.9950 intra-day on Friday. Price still trading below 365 day EMA. As worries concerning…
U.S. Dollar / Canadian Dollar Analysis /USD CAD News/Forecast The Loonie has seen net long positioning soar to over 70,000 contracts on the latest reporting period according to Fridays COT report data – a significant rise and up from around 44,000 net longs the prior week. This represents the most significant net long Canadian dollar…
USDCAD Analysis – Interest Rate Expectations Drop And the CAD Follows The Canadian dollar today dropped heavily versus the U.S. dollar after Canadian GDP (gross domestic product) surprisingly dipped during February and added weight to a “no rate change” scenario. The CAD likewise dropped 1.27% versus the Japanese Yen which was experiencing broad based market…
Canadian Dollar Strength Versus Potential Greenback Risk Aversion Flows The USD/CAD is trading around parity as it has been for the majority of the year. looking at recent data the US and Canadian job reports are in sharp contrast. Canada has created an astonishing +82,000 fresh jobs in March, comfortably beating almost all forecasts, and…
USDCAD Intra Day Analysis This is a chart that we have been watching on the intra-day basis and a price action update for USDCAD. USDCAD is at parity, and a descending trend line which began in January, after travelling 100% of the Average Daily Range over 60 days @ 72 pips. USD has been strong…
