USDCAD is holding near the 2 month high, the pair has gained more than 200 pips lthe last week. Traders expect no change in rates from Bank of Canada. The pair has touched the 100 day moving average which is a strong resistance level, and the volume does not support a break above that level. i expect USDCAD to test the lows at 1.26 as some profit taking is the most possible scenario.
futures's Blog
USDCAD
USDCAD made an impressive rally today breaking above the 200h MA and changed the short term trend to bullish. I will stay long as long as the pair is trading above that MA which is now a support.
Keep calm and trade responsibly...
Keep calm and trade responsibly...
USDCAD
USDCAD is approaching again the daily lows at 1.2964, an early USD reaction earlier today ended just above 1.30. I expect the pair to find support at the lows and start a slow recovery targeting 1.31
USDCAD
USDCAD is approaching again the daily lows at 1.2964, an early USD reaction earlier today ended just above 1.30. Stay short as long as the pair is trading below 1.2985. Remember that the CAD is often traded as a proxy for crude oil, so make sure that you are watching to what’s going on in that market. Today is Independence Day in USA, and that will work against volume in USDCAD, as the pair is heavily weighted towards North American trading
Keep calm and trade responsibly...
Keep calm and trade responsibly...
USDCAD
USDCAD is down 1.10% to lows that we haven't seen since February 24. The pair has reached oversold level and the crude price is still under pressure, we expect a short recovery from that level.
Keep calm and trade responsibly.....
Keep calm and trade responsibly.....
USDCAD
Strong Canadian retail sales send the USDCAD to daily low at 1.3207 down more than 100 pips for the day. Meanwhile crude oil is trading 1.4% higher after 4 days of losses. Sellers are in full control of the situation here as better macro data increase the chance of a rate hike on July 12th by Bank of Canada.
Keep calm and trade responsibly...
Keep calm and trade responsibly...
USDCAD
USDCAD is trading higher today and have reached a major resistance at 1.35 the 50d MA and lasts Friday high. I expect a small profit taking at 1.35 and enter a short position, with tight stop loss
USDCAD
USDCAD is trading higher today and have reached a major resistance at 1.35 the 50d MA and lasts Friday high. I expect a small profit taking at 1.35 and enter a short position, with tight stop loss
Keep calm and trade responsibly...
Keep calm and trade responsibly...
USDCAD
USDCAD breaks below the 50d MA after Bank of Canada decision to leave interest rates at current level, enhancing the negative momentum that have sketched the last days
Keep calm and trade responsibly....
Keep calm and trade responsibly....
USDCAD
USD finally corrects vs CAD turning the short term momentum to bearish. Sellers are in control and oil prices are trading higher. I expect the pair to stop around 1.36,
Keep calm and trade responsibly....
Keep calm and trade responsibly....