USD/CAD is trading at 1.1388, just above the October high of 1.1384, with the main driver being yet another drop in oil prices. WTI Crude Oil is trading at $76.50, a drop of 2.8%, and Brent is also on the slide, around $82.59 at the time of writing. The round number of 1.14 looms, but basically we are at levels last seen in July 2009. That’s 64 months. This specific breakout is a Canadian dollar story: the US dollar is actually somewhat softer against other currencies such as the euro, yen and pound, correcting some of the big gains it had, especially against the yen. Canadian trade balance is next and it’s published alongside US trade balance. Canada is expected to report a deficit of 0.7 billion C$ in September after 0.6 billion in August. The US has a deficit of 40 billion. Note that revisions are usually made to previous data. Above 1.14, we have 1.1470 as resistance, towards the round number of 115. Further above, strong resistance appears only at 1.17, which is not only a round number but also served as both support and resistance around the financial crisis. More CAD: Chasing Down The Barrel For CAD C$ forecast And here is the Dollar/CAD chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUDUSD Accumulating Strength off Weekly Support – Potential Buy? Dale Woods 8 years USD/CAD is trading at 1.1388, just above the October high of 1.1384, with the main driver being yet another drop in oil prices. WTI Crude Oil is trading at $76.50, a drop of 2.8%, and Brent is also on the slide, around $82.59 at the time of writing. The round number of 1.14 looms, but basically we are at levels last seen in July 2009. That's 64 months. This specific breakout is a Canadian dollar story: the US dollar is actually somewhat softer against other currencies such as the euro, yen and pound, correcting some of the big gains… Top 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.
