Post Tagged with: "USD/CAD Technical Analysis"

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 may or may not stay intact.

However, the strength of the C$ did not persist when US Fed Chair Janet Yellen began talking.

Read the rest of the article USD/CAD forms double top amid bullish Yellen, bullish oil
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

USD/CAD: Continues To Face Pullback Threats

USD/CAD: Continues To Face Pullback Threats

USDCAD: Having continued to look vulnerable, further decline is likely. On the downside, support lies at the 1.1200 level followed by the 1.1121 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1050 level and then the 1.1000 level. On the upside, resistance is seen at the 1.1300 [&hellip

USD/CAD Forecast Nov. 17-21

USD/CAD Forecast Nov. 17-21

The Canadian dollar posted modest gains last week, as USD/CAD closed the week at 1.1286. This week’s highlights are Wholesale Sales and Core CPI. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. US employment numbers were not impressive last week, as jobless claims missed expectations and JOLTS softened. Still, there was a silver [&hellip

AUD, CAD, NZD: Revising Down Forecasts – Nomura

AUD, CAD, NZD: Revising Down Forecasts – Nomura

Markets are swinging in favor of the US dollar and against the Japanese yen and moves have become quite strong rapidly. From here, are commodity currencies ready for a bounce or a further drop? The team at Nomura update the forecasts for the Australian, Canadian and New Zealand dollar to the downside, and explain why and where [&hellip

USD/CAD Forecast November 3-7

USD/CAD Forecast November 3-7

The Canadian dollar was almost unchanged last week, with USD/CAD closing at 1.1254. There are a number of key releases, highlighted by Ivey PMI and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. In a symbolic move, the Federal Reserve ended its QE program and issued a hawkish policy statement. GDP looked sharp, pointing [&hellip

USDCAD: Declines, Eyes Further Downside

USDCAD: Declines, Eyes Further Downside

USDCAD: With USDCAD declining strongly on Tuesday and following through lower on during Wednesday trading session, further weakness is envisaged. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 [&hellip