Post Tagged with: "USD/CAD Technical Analysis"

USD/CAD Forecast Jan. 19-23 2015

The Canadian dollar lost over 100 points last week, as USD/CAD tested the 1.20 line. This was its highest level since May 2009. The pair closed the week at 1.1975. There are 8 events this week, highlighted by Core Retail Sales and Core CPI. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.

In the US, last week’s data did not impress, as manufacturing and employment numbers disappointed. Still, consumer confidence continued to push higher, as the US consumer is optimistic about the economy. There only Canadian release last week, the BOC Business Outlook Survey, reported that business confidence had weakened since the previous survey in the fall of 2014.

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USDCAD: Looks To Resume Broader Uptrend.

USDCAD: Looks To Resume Broader Uptrend.

USDCAD: USDCAD continues to build up on more upside pressure medium term though it was seen backing off higher prices on Tuesday. On the upside, resistance is seen at the 1.2000 level followed by the 1.2050 level. Further out, resistance comes in at the 1.2100 level where a turn lower may occur. But if further [&hellip

USDCAD: Targeting Further Upside With Warning

USDCAD: Targeting Further Upside With Warning

USDCAD: USDCAD continues to build up more upside pressure extending its strength on Monday and threatening further upside. However, a pullback may be seen. On the upside, resistance is seen at the 1.2000 level followed by the 1.2050 level. Further out, resistance comes in at the 1.2100 level where a turn lower may occur. But [&hellip

USD/CAD Forecast Jan. 12-16 2015

USD/CAD Forecast Jan. 12-16 2015

The Canadian dollar continued to lose ground last week. USD/CAD approached the 1.19 line, its highest level since May 2009. This week’s sole release is the Bank of Canada Business Outlook Survey. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The tale of two economies continues, as the US economy outperforms its northern [&hellip

USD/CAD Forecast Jan. 5-9 2015

USD/CAD Forecast Jan. 5-9 2015

The Canadian dollar enjoyed a quiet week until Friday, when USD/CAD jumped 150 points. The pair closed at 1.1772, its highest level since May 2009. This week’s highlights are Building Permits and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. There were no Canadian releases last week, so US events took on [&hellip

USD/CAD forms double top amid bullish Yellen, bullish oil

USD/CAD forms double top amid bullish Yellen, bullish oil

The Canadian dollar got a boost from oil prices: this helped the loonie gain against the greenback, with USD/CAD falling below 1.16. The balanced rate statement from the Fed even sent the pair lower. There were quite a few reasons to see the pair as topping out, and now we have a double top, that [&hellip

USD/CAD Forecast Dec. 15-19

USD/CAD Forecast Dec. 15-19

The Canadian dollar resumed its losing ways, dropping over 100 points last week. USD/CAD closed the week at 1.1580, its highest level since July 2009. This week’s highlights are Manufacturing Sales, Core CPI and Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The US dollar pushed higher against the loonie, responding to [&hellip

USD/CAD Bullish, Risk Points Higher

USD/CAD Bullish, Risk Points Higher

USDCAD: With continued upside offensive seen, further bullishness is envisaged. On the upside, resistance is seen at the 1.1600 level followed by the 1.1650 level. Further out, resistance comes in at the 1.1700 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1750 level. On the [&hellip

USD/CAD Forecast Dec. 8-12

USD/CAD Forecast Dec. 8-12

The Canadian dollar showed strong gains early in the week but was unable to consolidate and ended the week almost unchanged. USD/CAD closed the week at 1.1423. This week’s highlight is Building Permits. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. In the US, Non-Farm Payrolls report was outstanding with a 321K job gain [&hellip

USD/CAD Forecast Dec. 1-5

USD/CAD Forecast Dec. 1-5

The Canadian dollar suffered sharp losses last week, slipping about 170 points alongside the crash in oil prices and despite good data at home. USD/CAD climbed above the 1.14 line for the first time since July 2009 and closed at 1.1402. The upcoming week is  a busy one, with five key events. Here is an outlook on the major market-movers and [&hellip