Post Tagged with: "USD/CAD Technical Analysis"

USD/CAD Forecast Sep. 8-12

USD/CAD showed some movement in both directions, but ended the week unchanged, closing at 1.0877. This week’s highlight is Building Permits. Here is an outlook on the major events and an updated technical analysis for USD/CAD.

Canadian Employment Change and Ivey PMI tumbled in August, but the Canadian dollar managed to hold its own last week. In the US, Nonfarm Payrolls slumped to a 7-month low, while services and manufacturing PMIs beat the estimates.

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USD/CAD Forecast Sep. 1-5

USD/CAD Forecast Sep. 1-5

USD/CAD dropped lower, as the loonie managed to recover despite the greenback’s strength. The highlights of this week are the rate decision by the BOC and the employment figures. Will Poloz and co. accept rising inflation?. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canada’s current account deficit was wider than [&hellip

USD/CAD: Weakens, Targets The 1.0850 Level

USD/CAD: Weakens, Targets The 1.0850 Level

USDCAD: With USDCAD selling off strongly, further downside is likely in the days ahead. On the downside, support lies at the 1.0850 level followed by the 1.0800 level where a break will aim at the 1.0750 level and then the 1.0700 level. Its daily RSI is bearish and pointing lower supporting this view. On the [&hellip

USDCAD: Sees Recovery Momentum

USDCAD: Sees Recovery Momentum

USDCAD: With USDCAD rallying strongly the past week, further bullishness is expected in the days ahead. On the upside, resistance is seen at the 1.0970 level followed by the 1.1000 level. Further out, resistance comes in at the 1.1050 level where a reversal of roles is expected to occur and turn it lower. But if [&hellip

USD/CAD: Trading the Canadian Wholesales Sales

USD/CAD: Trading the Canadian Wholesales Sales

Canadian Wholesale Sales is an important gauge of consumer spending, which is a critical component of economic growth. A reading which is higher than expected is bullish for the Canadian dollar. Update: Canadian wholesale sales rise 0.6%, slightly better than expected Here are all the details, and 5 possible outcomes for USD/CAD. Published on Wednesday at [&hellip

USD/CAD Forecast Aug. 18-22

USD/CAD Forecast Aug. 18-22

The Canadian dollar improved last week, as USD/CAD closed just below the 1.09 level. This week’s highlights are Wholesale Sales, Core CPI and Core Retail Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian Housing Starts and Manufacturing Sales both beat their estimates, and the Canadian dollar took full advantage. [&hellip

USD/CAD Forecast Aug. 11-15

USD/CAD Forecast Aug. 11-15

The Canadian dollar posted modest losses last week, as USD/CAD closed at 1.0971. Will the pair break above the 1.10 level? This week’s highlight is Manufacturing Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian Building Permits and Ivey PMI were up sharply in July, but any chance of the [&hellip

Canadian dollar extends gradual recovery thanks to trade balance surprlus

Canadian dollar extends gradual recovery thanks to trade balance surprlus

USD/CAD almost made it to the very round level of 1.10, but its fate changed in the US session, with the strong trade balance. On the hourly chart, it already looks like more than a correction but rather a significant change of direction. However, there still is a long way for the loonie to recover and [&hellip

USD/CAD Forecast Aug. 4-8

USD/CAD Forecast Aug. 4-8

The Canadian dollar continued its losing ways last week.  The currency lost about a cent, as USD/CAD closed the week above the 1.09 line. There are five major releases this week, highlighted by Employment Change. Here is an outlook on the major events and an updated technical analysis for USD/CAD. Canadian inflation and GDP numbers were solid last week, [&hellip

USD/CAD trading in an ascending channel in the 4 hour chart

USD/CAD trading in an ascending channel in the 4 hour chart

The Canadian dollar has lost a lot of ground against the US dollar in the last few days. The USDCAD pair recently traded as high as 1.0868. However, we need to be very careful moving ahead, as the pair is approaching a major resistance area, which might result in a pullback in the pair. There [&hellip