Today’s free forex signals service is a buy on the USD/CAD as we expect the market to observe the Dollar’s downside in the wake of Fed’s hawkish stance on tapering. Early Friday morning, the USD/CAD pair was down to a two-week low of around 1.2650. Meanwhile, the loonie pair paused for three days to not forget the biggest drop since August. Yesterday, the USDCAD slipped below 1.2720 and began a downward trend as we anticipate further declines to 1.2600. The current bearish sentiment is therefore suggested for today. Breaking 1.2720 and 1.2775 will be necessary to stop the current negative pressures. Get FREE Forex Signals Now! The USD/CAD fell further amid better market sentiment and received a double boost from the surge in oil prices before hitting two-month highs again. After the Fed corrected to re-launch its monthly high, the positive sentiment had the biggest impact on the US Dollar Index (DXY) since August 27. The key to tracing the origins is waning fears that Chinese real estate giant Evergrande poses a major threat to the economy. As a result, government incentives were provided to help encourage the company to pay off the proposed coupon and receive restructuring plans. In addition to pressure on the DXY, more favorable sentiment also boosted US equities. At the same time, 10-year US Treasury yields rose the most in 10 weeks, ultimately justifying the Fed’s hints of tightening and rate hikes. Earlier on Thursday, the US Treasury bond yields fell as higher jobless claims than expected led to a fall in the dollar. As for monetary policy, the Fed left it unchanged, saying that if the recovery in the US continues, it may remove some adjustments. IHS Market’s composite PMI also showed weaker performance than expected in manufacturing and services. -Are you looking for the best MT5 Brokers? Check our detailed guide- Free forex signals – Sell USD/CAD at 1.2628 Instrument: USD/CAD Order Type: SELL STOP Entry price: 1.2628 Stop Loss: 1.2734 TP1: 1.2491 Our Risk Setting: 1% Risk / Reward Ratio: 1:1.3 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Forex Trading Signals share Read Next USD/JPY Forecast: Upside Confirmed, Spotlight on Powell Speech Olimpiu Tuns 1 year Today's free forex signals service is a buy on the USD/CAD as we expect the market to observe the Dollar's downside in the wake of Fed's hawkish stance on tapering. Early Friday morning, the USD/CAD pair was down to a two-week low of around 1.2650. Meanwhile, the loonie pair paused for three days to not forget the biggest drop since August. Yesterday, the USDCAD slipped below 1.2720 and began a downward trend as we anticipate further declines to 1.2600. The current bearish sentiment is therefore suggested for today. Breaking 1.2720 and 1.2775 will be necessary to stop the current negative… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.