USDCAD

post-image

Technical Analysis – USDCAD ticks up after downfall from descending line

Posted on October 2, 2020 at 7:40 am GMT

USDCAD is pointing slightly up after the strong downfall from the upper surface of the Ichimoku cloud and the falling trend line around 1.3420. The 20- and 40-day simple moving averages (SMAs) created a bullish crossover near the 1.3250 barrier suggesting an upside pullback in the short-term. The MACD oscillator is flattening in the positive territory, while the RSI is ticking up near 50. The negative bias in the medium-term is still in place and if there is a successful [..]

post-image

Technical Analysis – USDCAD edges marginally up as progress remains capped

Posted on September 29, 2020 at 1:26 pm GMT

USDCAD has been nicely hovering above the 1.3350 support level but is capped by the 20-day simple moving average (SMA). From a technical perspective, the short-term bias is viewed as positive, reflected by the improvement in the RSI and the stochastic. Yet only a decisive close above the nearby resistance of 1.3418 can boost buying pressure towards the 1.3460 barrier. Stretching further, the bulls may next stop near the 1.3500 psychological mark. In the event of a downside reversal below 1.3350, the 23.6% [..]

post-image

Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]

post-image

Technical Analysis – USDCAD rallies above 200-MA; positive signals emerge

Posted on September 22, 2020 at 9:49 am GMT

USDCAD is confronting the 1.3346 to 1.3360 resistance zone after the pair commenced actions to shift the short-term bias to positive, by rocketing above the 200-period simple moving average (SMA) and the previous spikes that tried to pierce above it, in the beginning of September. The upward sloping Ichimoku lines are assisting the climb, while the rising 50- and 100-period SMAs and the fresh bullish crossover of the 200-period SMA may reinforce the ascent. The short-term oscillators suggest improvements in [..]

post-image

Technical Analysis – USDCAD rallies above 200-MA; positive signals present

Posted on September 22, 2020 at 9:14 am GMT

USDCAD is confronting the 1.3346 to 1.3360 resistance zone after the pair commenced actions to shift the short-term bias positive, by rocketing above the 200-period simple moving average (SMA) and the previous spikes that pierced above it, in the beginning of September. The upward sloping Ichimoku lines are assisting the climb, while the rising 50- and 100-period SMAs and the fresh bullish crossover of the 200-period SMA may reinforce the ascent. The short-term oscillators suggest improvements in momentum. The MACD, [..]

post-image

Daily Market Comment – BoE clips pound’s wings, equities brace for turbulence

Posted on September 18, 2020 at 10:41 am GMT

Sterling capsizes after BoE opens door to negative rates Fed disappointment torments equities, but dollar doesn’t get the memo Market turmoil might continue today amid major option expiries Crude oil stages heroic comeback on supply hopes Bank of England does another policy U-turn The BoE injected another dose of volatility into British assets yesterday after it announced that it is studying the implementation of negative interest rates, just six weeks after it downplayed this policy as ineffective. It seems that [..]

post-image

Technical Analysis – USDCAD conveys a dominant negative bias

Posted on September 18, 2020 at 8:16 am GMT

USDCAD has somewhat paused after the pullback from the near 8-month low of 1.2993. The rebound in the price appears to be resting on the mid-Bollinger band at 1.3131, shadowed by a governing bearish structure. The dictating downward sloping 50- and 100-day simple moving averages (SMAs) and the recently completed bearish crossover of the 200-day SMA, may deliver an extra boost to a southward result. Negative signals continue to reign within the short-term oscillators, backing a deteriorating picture. The stochastic [..]

post-image

Technical Analysis – USDCAD conveys a ruling negative forecast

Posted on September 18, 2020 at 7:57 am GMT

USDCAD has somewhat paused after the pullback from the near 8-month low of 1.2993. The rebound in the price appears to be resting on the mid-Bollinger band at 1.3131, shadowed by a governing bearish structure. The dictating downward sloping 50- and 100-day simple moving averages (SMAs) and the recently completed bearish crossover of the 200-day SMA, may deliver an extra boost to a southward result. Negative signals continue to reign in the short-term oscillators, backing a deteriorating picture. The stochastic [..]

post-image

Technical Analysis – USDCAD hits a ceiling around 1.3260

Posted on September 16, 2020 at 11:34 am GMT

USDCAD has been trending upwards over the last two weeks following the bounce off a fresh eight-month low of 1.2993. However, a strong resistance around the 1.3207 barrier has been a barrier to additional gains over the past week, shifting the spotlight back to the ascending trend line around 1.3150. The momentum indicators in the four-hour chart though are currently supporting the ongoing sideways move in the price. Specifically, the RSI is holding around the 50 level, while the stochastic is reversing lower after posting a bearish crossover within its %K [..]

post-image

Daily Market Comment – Markets hold their breath ahead of Fed decision

Posted on September 16, 2020 at 8:34 am GMT

Spotlight falls on the Fed today: will it deliver new measures to boost inflation? Bank of Japan meets a few hours later, not much is expected Otherwise muted moves across markets as investors await FOMC direction Fed: Justifying the paradigm shift The main event today will be the FOMC decision at 18:00 GMT, which will be followed by the regular press conference by Chairman Powell half an hour later. The Fed is certain to use this meeting as a public [..]

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.