All Articles Tagged - USDCAD

European Session – Dollar sees some pressure as FOMC meeting gets underway

Posted on December 13, 2016 at 3:45 pm GMT

Market jitters over Fed policy pushed the US dollar down to the 115 yen level in Tuesday’s European session as the FOMC begins its 2-day meeting. The greenback slipped to 114.96 yen before rebounding back above 115 as investors grew nervous over the outlook for future Fed policy, while an expected rate hike of 25bps in the fed funds rate has been almost fully priced in by the futures market. The Federal Open Market Committee will publish its latest quarterly [..]

FX Daily Outlook| 12-12-16

Posted on December 12, 2016 at 9:44 am GMT

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Technical Analysis – USDCAD extends decline; short term bearish bias remains

Posted on December 12, 2016 at 9:12 am GMT

USDCAD extended its decline on Monday to touch a low of 1.3110, the lowest since October 20. The short-term bearish bias is still in place and this is highlighted by the falling RSI and MACD. Prices are heading towards the 200-day moving average which would likely act as support and restrict a further decline. This support level lies at 1.3074 and coincides with the 61.8% Fibonacci retracement level of the rise from 1.2762 to 1.3587. Below this, the key 1.3000 [..]

Technical Analysis – USDCAD bullish but pauses rally at 5-month high

Posted on November 15, 2016 at 8:39 am GMT

USDCAD paused a rally that took the pair to a fresh 9-month high of $1.3587 on Monday. This is an important level and is acting as resistance since it is defined by the 50% Fibonacci retracement of the January-May decline from 1.4689 to 1.2460. To the downside, it is important for support at 1.3500 to hold, otherwise a break below this would lead to a fall towards 1.3308 and 1.3200 and would shift the current short-term bullish bias. The technical [..]

FX Daily Outlook | 25-10-16

Posted on October 25, 2016 at 9:20 am GMT

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Technical Analysis – USDCAD Daily makes 7-month high as its breaks out of 1.27-1.33 range

Posted on October 25, 2016 at 7:55 am GMT

USDCAD daily has managed to break out of the 5-month old range of 1.27-1.33 during the previous sessions, as it tested 1.34 by trading up to 1.3396 (Monday’s high and the highest since March). The pair is looking positive as it is trading above the 200-day average (1.3134) and the Relative Strength Index is also bullish at 60. Performing a Fibonacci analysis on the down move from 1.4690 (January high) to 1.2460 (March low), the pair is currently around the [..]

FX Daily Outlook | 21-10-16

Posted on October 21, 2016 at 10:14 am GMT

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Technical Analysis – USDCAD bullish above cloud

Posted on October 21, 2016 at 8:15 am GMT

USDCAD has been on a shallow uptrend since bottoming out at a 10-month low of 1.2460 in early May. The pair has been making higher highs and higher lows and hit a 7-month high of 1.3312 on October 7. Prices are currently above the Ichimoku cloud and the 50- and 200-day moving averages, underlining the bullish outlook in the medium term. However, the flat-lining tenkan-sen and kijun-sen lines suggest the positive bias is tilting towards a neutral one. In the [..]

European Session – US dollar mixed as euro braces for ECB; Loonie firms on BoC

Posted on October 19, 2016 at 2:54 pm GMT

The US dollar was mixed – stronger versus the euro but down against the yen during today’s European trading. The weakness in the euro was pronounced versus other majors, as investors and traders perhaps expected some promises of stimulus extension by the European Central Bank when the bank’s Governing Council meets next tomorrow in Frankfurt. Euro / yen was near a 3-week low as it traded down to 113.10. The yen was strong while European stocks drifted amid weak earnings [..]

Technical Analysis – USDCAD looking for bullish break of key 1.31 level

Posted on September 13, 2016 at 7:29 am GMT

USDCAD briefly popped above the key 1.3100 level on Monday but closed below it on the day. The area around this key psychological 1.31 level is a strong resistance area which has been tested several times this year. Looking at the bigger picture, the pair has been trading within a range between 1.27 and 1.32 since May this year. The flat 50-day and 200-day moving averages are an indication that the overall trend is neutral. In the near term, the [..]

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