Post Tagged with: "USD/CAD Technical Analysis"

USD/CAD: Trading the Canadian GDP

Canadian GDP is a measurement of the production and growth of the economy and is considered one of the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar.

Update: Canadian GDP flat in July – USD/CAD rises

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USD/CAD Forecast Sep. 29-Oct. 3

USD/CAD Forecast Sep. 29-Oct. 3

The Canadian dollar dropped sharply last week, surrendering about 200 cents against the US dollar. USD/CAD closed the week at 1.1142, its lowest level since March. This week’s highlight is GDP. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. Canadian Core Retail Sales disappointed, posted its first decline since January. The US economy [&hellip

USDCAD: Maintains Offensive Bias

USDCAD: Maintains Offensive Bias

USDCAD: With USDCAD continuing to retain its broader upside bias, further bullishness is now envisaged. In such a case, it will aim at 1.1097 level. On the upside, resistance is seen at the 1.1150 level followed by the 1.1200 level. Further out, resistance comes in at the 1.1250 level where a turn lower may occur. [&hellip

USD/CAD Forecast Sep. 22-26

USD/CAD Forecast Sep. 22-26

The Canadian dollar rebounded last week, gaining over 100 cents against the US dollar. USD/CAD closed the week at 1.0962. This week’s highlight is Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. US  unemployment claims dropped sharply last week, and the Fed hinted that once rates are raised, subsequent hikes [&hellip

USD/CAD Forecast Sep. 15-19

USD/CAD Forecast Sep. 15-19

The Canadian dollar had its worst week of 2014, as USD/CAD jumped about 200 points, closing close to the 1.11 level. This week’s major releases are Manufacturing Sales, Core CPI and Wholesale Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. Canadian housing data was a mix last week, as Building Permits shined, while Housing [&hellip

USD/CAD holds above 1.10 – seems here to stay

USD/CAD holds above 1.10 – seems here to stay

What looked inevitable finally became inevitable and USD/CAD broke above the very round 1.10 level. The peak so far has been 1.1030, still shy of resistance at 1.1030. However, despite a correction of some currencies against the greenback, the Canadian dollar seems unable to recover at the moment, and is holding on above 1.10. The forex calendar [&hellip

USD/CAD Forecast Sep. 8-12

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, [&hellip

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