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Usd/cad

USD/CAD

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114 replies to this topic

#1 RusefSandi

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Posted 15 February 2019 - 08:36 AM

USD/CAD bulls making a well-ventilated attempt to extend progression on the summit of 1.3300 handle

 

Regains sure traction in the middle of some renewed USD buying assimilation.
Bulls seemed unaffected by the prevalent bullish shape in oil prices.
Traders now eye second-tier economic releases for some impetus.


After yesterday's late attraction-sponsorship from three-week tops, the USD/CAD pair caught some sentient bids re the subject of Friday and was now seen making an open attempted to manufacture very roughly its press in front on the summit of the 1.3300 handles.

The pair did profit a hermetically sealed boost and rallied to an intraday tall level of 1.3340 upon Thursday subsequent to the reprieve of disappointing Canadian manufacturing sales data. However, shockingly poor US monthly retail sales data for December triggered a wide-based US Dollar sickness and prompted some long-unwinding trade well ahead in the daylight.

With investors looking appendix overnight hopeless data, the greenback regained some supportive traction and helped regain authentic traction upon the last trading day of the week. The uptick seemed rather unaffected by the prevailing bullish sentiment surrounding the oil promote, which tends to underpin demand for the commodity-connected currency - Loonie.

In fact, WTI substandard oil prices remained within striking set against of 2019 highs, supported by OPEC-led supply cuts and a partial shutdown of Saudi Arabia's biggest offshore oil sports ground, and might viewpoint out to be unaided factor keeping a cover upon any malingerer rally, at least for the epoch monster and together between absent major puff-upsetting economic releases.

Today's US economic docket features some second-tier releases of Empire State Manufacturing Index, industrial production data and Prelim UoM Consumer Sentiment, which might be looked upon for some terse-term trading impetus in the estrange afield ahead during the in designate help to North-American session.

Technical levels to watch

Any subsequent going on-have an effect on might continue to call a halt to some open supply unventilated mid-1.3300s, above which the pair is likely to hope towards surpassing the 1.3400 handles back eventually darting to test the 1.3430-35 supply zone. On the flip side, the 1.3270 level now seems to engagement as hasty retain, which if discontinuous might drag the pair inconsistent towards 100-hours of hours of day SMA hold muggy the 1.3240-35 region en-route the 1.3200 round figure mark.

 

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#2 RusefSandi

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Posted 23 February 2019 - 02:15 PM

USD/CAD - Sino-U.S. Trade Optimism to Influence Rally in Favor of CAD

USDCAD trades furthermore than dovish bias as certain unprofessional oil price and Sino-U.S. trade chat joined headlines conscious rally well-disposed of the Canadian Dollar.

The USDCAD pair proverb parabolic price influence fused than the last 24 hours. While price is responsive was rangebound for the majority of yesterdays trading session, the pair saw sure price behave during American confirm hours as US Dollar gained strength in the broad offer despite dirty macro data upshot in the U.S. economic directory as headlines hinted at the press on in Sino-U.S. trade talks. Reports hit the assistance that both China & U.S. are preparing several agreements which are usual to be signed in the close sophisticated ensuring a trade settlement amid the two nations. These reports inspired long term U.S. giving out sticking together yields to see a brilliant rise in the American push hours providing Dollar bulls once fundamental arrangement required to insist on a sure price rally.

Crude Oil Price Underpins CAD Bulls

However, the Dollar last gains during Asian expose hours as investors concerns on the peak of decreased home sales in  U.S. markets and edited industrial animatronics from macro data updates finally caught occurring considering the grip abet. This resulted in Dollar seeing cunning slant erasing all overnight gains as it drifting its fundamental publication. Further, optimism surrounding the trade accord along together surrounded by the two nations resulted in substandard oil price hitting adding taking place 2019 highs in both spot and futures environment. This resulted in the pair seeing added declines as Canadian Loonie is a commodity-merged currency and gains whenever sloppy oil price spikes in the expansive abet. Further, trade chat optimism plus underpins risk appetite in the broad market resulting in a rally in concurrence of CAD. As of writing this article, USDCAD pair is trading at 1.3178 beside by 0.40% re the hours of daylight.


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#3 RusefSandi

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Posted 28 February 2019 - 01:10 PM

USD/CAD regains certain traction, strengthens auxiliary once more mid-1.3100s

The overnight reprieve of softer Canadian CPI continues to weigh going regarding for the domestic currency.
Traders shrug off some renewed USD illness and rather pay for cues from weaker oil prices.
Focus remains about today's important US macro data, especially support Q4 GDP further footnote print.

After an initial dip to 1.3140 level, the USD/CAD pair regained some sure traction and was now seen building upon the previous session's late rebound from closer to multi-week lows.

In what was seen as a delayed appreciation to softer than respected Canadian consumer inflation figures, the pair managed to locate some maintenance oppressive the 1.3120 regions and was adding together supported by a goodish US Dollar rebound from three-week lows.

Meanwhile, a brilliant pullback in the US Treasury bond yields, triggered by a well-ventilated greeting of global risk-sensitivity trade along along along with renewed uncertainty on the zenith of the US-China trade negotiations, kept a lid upon any follow-through USD uptick upon Wednesday.

The pair, however, seemed unaffected, rather took cues from a modest attraction-insist in unprofessional oil prices, which tend to undermine demand for the commodity-connected currency - Loonie, and managed to regain traction from the totally important 200-hours of day SMA.

Currently hovering on the subject of session tops, in this area the 1.3170-75 region, shout from the rooftops participants now see attend to the US economic docket, highlighting the to hand of support Q4 GDP buildup figures and the Fed's preferred play-engagement of inflation - core PCE, for some well-ventilated impetus.


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#4 mlawson71

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Posted 13 June 2019 - 02:27 PM

The correction continues, the pair rallied to 1.3345 and bounced off from it, but it may continue developing to the upside.



#5 mlawson71

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Posted 14 June 2019 - 04:20 PM

The pair reached 1.3300 as I thought it would and bounced off from it. Currently it is likely depreciating back towards the low at 1.3240.
 



#6 mlawson71

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Posted 17 June 2019 - 04:05 PM

The pair is consolidating around 1.3400 but I think we will see it move further north this week.



#7 mlawson71

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Posted 18 June 2019 - 04:21 PM

It finally bounced off from 1.3435, I think we will see some correction.



#8 mlawson71

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Posted 19 June 2019 - 03:25 PM

It bounced off from 1.3345 so for now the move south is over. It will likely reach 1.3400 again.



#9 mlawson71

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Posted 20 June 2019 - 03:32 PM

USD/CAD rebounded from 1.3150 after forming a spinning top there on the one-hour time-frame. I think it may rally to 1.3230.



#10 mlawson71

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Posted 21 June 2019 - 04:51 PM

It reached 1.3230 indeed and the move north will probably continue towards 1.3300.



#11 mlawson71

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Posted 24 June 2019 - 02:21 PM

The pair dropped after all and is currently back at 1.3200, a break out below that level may lead to 1.3130.



#12 mlawson71

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Posted 25 June 2019 - 04:09 PM

The move to the downside continues and the pair is testing 1.3170. I have little doubt it will continue depreciating.



#13 mlawson71

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Posted 26 June 2019 - 05:21 PM

The move south is still developing and the pair will likely soon break out below 1.3100.



#14 mlawson71

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Posted 27 June 2019 - 03:49 PM

It's still testing 1.3100, I think we'll see a breakout before the end of the week.



#15 mlawson71

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Posted 28 June 2019 - 03:24 PM

The pair is very bearish and it broke out below 1.3100. I would not be surprised to see it fall all the way to 1.3000 too.



#16 mlawson71

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Posted 29 June 2019 - 03:57 PM

For now it is still testing the support (and last low) at 1.3070. I think it will break out below that level but we will have to wait until next week.



#17 mlawson71

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Posted 30 June 2019 - 03:41 PM

USD/CAD found some support at 1.3060 but I think it will break out below that level next week.



#18 mlawson71

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Posted 01 July 2019 - 03:09 PM

It bounced off from that level after all, it looks like it will rally towards 1.3150 after all.



#19 mlawson71

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Posted 02 July 2019 - 02:37 PM

It's consolidating around 1.3130 but I think it will continue moving north for now.



#20 mlawson71

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Posted 04 July 2019 - 04:07 PM

USD/CAD is slowly inching downward but the big movement will likely happen on Friday after the NFP.






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