EUR/CAD 4H Chart: Could Edge Higher
The single European currency declined by 1.16% against the Canadian Dollar during last week's trading sessions. The 50– period simple moving average pressured the currency pair lower last week.
The exchange rate bounced off a support level at 1.4597 during Friday's trading session. Most likely, the EUR/CAD pair could continue...
USD Loses Further Ground On Low Rates Expectations
The USD tended to retreat further against a basket of its peers yesterday, as the market sentiment seems to have been influenced by the expectations of the Fed keeping its interest rates at low levels for a long period. Fed’s policymakers seem to maintain their dovish view and Dallas...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2143
Prev Close: 1.2151
% chg. over the last day: +0.07%
On Monday, the EUR/USD currency pair continued to rise. Yesterday, the US Treasury bond auction was held by the Treasury Department. Increased liquidity in the financial system is playing in favor...
Stocks Bounce Back As Optimism Returns, Dollar Sags
Stocks bounce back as recovery hopes supersede virus and inflation jitters
Dollar slumps on easing Fed taper worries but inflation bets lift gold
Euro and pound surge as Europe reopens, loonie hits highest in 6 years
Markets buoyed as optimism takes over
Fears about rising virus cases in Asia receded...
USD/CAD Pressured By 50- Hour SMA
The US Dollar has declined by 114 pips or 0.94% against the Canadian Dollar since Monday's trading session. The currency pair breached the support level at 1.2068 on Monday.
All things being equal, the USD/CAD exchange rate is likely to continue to edge lower during the following trading session. Bearish...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2079
Prev Close: 1.2141
% chg. over the last day: +0.51%
On Friday, the EUR/USD currency pair grew by 0.51%. Eventually, buyers managed to keep the support level of 1.2074, which is the level of priority change on the H1 timeframe.
Trading recommendations
Support...
USDCAD Head And Shoulders
The US dollar is looking vulnerable against the Canadian dollar again, following a short lived recovery above the 1.2200 resistance level last week. The one-hour time frame is showing that a bearish head and shoulders pattern, with one-hundred points of downside potential, has formed. Sustained weakness under the neckline...
USD/CAD Decline Likely To Continue
The US Dollar declined by 90 pips or 0.74% against the Canadian Dollar on Friday. The currency pair breached the 50– hour simple moving average during Friday's trading session.
As for the near future, the exchange rate could continue to trend bearish. Sellers are likely to target the weekly support...
Stocks Stayed in Up Trend, Yields Range Bound, Dollar Lost Downside Momentum
Market debates heated up last week with the influx of some US economic data. On the other hand, the concerns on overheating inflation was legitimate given the much stronger than expected headline and core CPI reading from the US. On the other hand, poor retail sales, and prior week's...
CFTC Commitments of Traders – Bets on Higher CAD Increased Markedly
As suggested in the CFTC Commitments of Traders report in the week ended May 11, NET LENGTH of USD index futures added +368 contracts to 2 423. Speculative long positions gained +5 095 contracts while shorts were up +4 727 contracts. Concerning European currencies, NET LENGTH in EUR futures...
What is Pushing USD/CAD Lower?
Since the Bank of Canada met on April 21st , when they cut bond purchases from C$4 billion/week to C$3 billion/week, USD/CAD has been in a freefall. Price has dropped from 1.2654 on that date to a low of 1.2046 on May 12th. Is it solely because the BOC...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2069
Prev Close: 1.2078
% chg. over the last day: +0.07%
On Thursday, the EUR/USD currency pair was trading in the range. Sellers tried to break through the support level of 1.2074 but failed to hold below it.
Trading recommendations
Support levels: 1.2074, 1.2026,...
Wall Street Snaps Losing Streak, But Retail Sales Get The Final Say
Stocks bounce back as Fed calms tapering nerves, dollar retreats
US retail sales today could spark another round of volatility
Bank of Canada chief talks down loonie, FX market quiet overall
Equity markets roar back
The inflation scare on Wall Street turned out to be ‘transitory’ after all. The major...
USD/CAD Breakout Occurs
The US Dollar surged by 81 pips or 0.67% against the Canadian Dollar on Thursday. A breakout occurred through the upper boundary of a descending channel pattern during yesterday' trading session.
Given that a breakout has occurred, the exchange rate could continue to trend bullish during the following trading session....
USDCAD Rises After Posting 6-Year Low
USDCAD is gaining ground over the last couple of days, following the rebound off the six-year low of 1.2240. The price found an obstacle at the red Tenkan-sen line, which is acting as strong resistance. The MACD oscillator is trying to surpass above its trigger line in the negative...
USDCAD Divergence Warning
The US dollar is attempting to recover higher against the Canadian dollar after finding strong technical support around the 1.2045 level. Lower time frame analysis shows that bullish MACD divergence has formed and extends towards the 1.2200 resistance area. The overall price trend remains bearish so traders may attempt...
Rate and Crude Oil Price to Support CAD Outlook
Year-to-date, Canadian dollar is the best performing currency against US dollar. Indeed, most of the gains has been accumulated after the April BOC meeting, at which policymakers announced QE tapering and hinted about rate hike in as soon as next year. Despite recent disappointment in macroeconomic data, we expect...
Sentiment Further Stabilized as Focus Turns to US Retail Sales
The forex markets are steady in Asian session today as sentiment stabilized, following strong rebound in US stocks overnight. Dollar is currently the second strongest for the week, just next to Sterling. But no key level was taken out with the rebound in the last few days. The greenback...
BoC Macklem: Strong Canadian Dollar does create come risk
BoC Governor Tiff Macklem said yesterday that recent rise in commodity prices is "goods news for Canada. But a stronger Canadian Dollar "does create some risk."
"If it moves a lot further, that could have a material impact on our outlook and it is something we have to take into...
CAD Drifting, Manufacturing Sales Next
On Thursday, the Canadian dollar has posted small gains. In the North American session, USD/CAD is trading at 1.2147, up 0.11% on the day.
The Canadian dollar has been on a tear lately. USD/CAD has fallen 1.32% in May and the Canadian dollar hasn’t suffered a losing week since March....
CAD/JPY 4H Chart: Bull Run To Continue
Upside risks have continued to pressure the CAD/JPY currency pair higher since the beginning of this month. The Canadian Dollar has surged by 2.42% against the Japanese Yen since May 1.
All things being equal, the exchange rate could continue to trend bullish during the following trading sessions. The potential...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2145
Prev Close: 1.2069
% chg. over the last day: -0.62%
Despite rising inflation in the US, the EUR/USD price fell sharply by 0.62% on Wednesday. Buyers are trying to hold the support level of 1.2074, but the upside initiative is weak.
Trading...
USD/CAD Two Scenarios Likely
The US Dollar surged by 72 pips or 0.59% against the Canadian Dollar on Wednesday. The currency pair breached the upper boundary of a descending channel pattern during the London open on Thursday.
The exchange rate is likely to continue to edge higher during the following trading session. The potential...
Dollar Spikes Higher after Strong Inflation, But No Follow Through Buying Yet
Dollar rebound strongly in early US session after much stronger than expected consumer inflation data. But Canadian Dollar is even stronger with help from extended rebound in oil price. Sterling is the third strongest, as supported by stronger than expected GDP. On the other hand, New Zealand and Australian...
USD Stabilises And Gains Somewhat Ahead Of Inflation Data
USD remained at rather low levels yesterday yet stabilized and even had some small gains against its counterparts yesterday. The market is still focused on the Fed’s intentions and whether it plans to tighten its monetary policy through its asset purchases program mainly and April’s US inflation rates which...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2128
Prev Close: 1.2148
% chg. over the last day: +0.16%
On Tuesday, the EUR/USD price tried to break through the resistance level of 1.2176 again, but the sellers managed to defend their positions.
Trading recommendations
Support levels: 1.2108, 1.2074, 1.2027, 1.2002, 1.1957, 1.1835
Resistance...
USD/CAD Consolidates Above 1.2080
The US Dollar traded sideways against the Canadian Dollar on Tuesday. The USD/CAD currency pair consolidated above the 1.2080 level during Tuesday's trading session.
The exchange rate breached the 50– hour simple moving average during the Asian session on Wednesday. Most likely, bullish traders could push the price higher today.
However,...
Dollar Recovers But Not Turning Around Yet, Sterling Firm
Dollar recovers broadly today even though Fed officials sung a chorus emphasizing patience in monetary policy. Canadian Dollar is also firm with help from rebound in oil prices. On the other hand, Australian Dollar is trading generally lower together with Kiwi. Nevertheless, for the week so far, Sterling remains...
Can US Inflation and Retail Sales Data Rescue the Dollar?
It's a huge week for US economic data, with CPI inflation on Wednesday and retail sales on Friday. Following the shockingly disappointing jobs numbers lately, there's less pressure on the Fed to scale back its QE program anytime soon, so the summer months could be difficult for the dollar....
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2159
Prev Close: 1.2127
% chg. over the last day: -0.26%
The EUR/USD currency pair was flat on Monday. Most of the time the price moved sideways and only at the end of the American session it went down, breaking through the...