USD/CAD started to descend

2 January, 2019

  • Prev Open: 1.36380
  • Open: 1.36157
  • % chg. over the last day: -0.11
  • Day's range: 1.35691 – 1.36559
  • 52 wk range: 1.2248 – 1.3664

USD/CAD started to descend. At the moment CAD is consolidating at 1.35700-1.36200. A technical correction is highly probable. You should open positions from the key levels while keeping an eye on the oil quotes.

The Economic News Feed for 02.01.2019 is calm.

Indicators do not provide precise signals, the price fixes between 50 MA and 200 MA.

The MACD histogram started to descend, which points toward the power of the sellers.

The Stochastic Oscillator is in the neutral zone, the %K line started the cross the %D line. There are no signals at the moment.

Trading recommendations

  1. Support levels: 1.35700, 1.35250, 1.34900
  2. Resistance levels: 1.36200, 1.36600

If the price fixes below the 1.35700 expect the USD/CAD correction toward 1.35300-1.35000.

Alternatively, the quotes can grow toward 1.36600.

Source link   Presented by JustForex

USD/CAD retreats from session highs,

US Dollar Index loses traction in the last hour. WTI clings to small daily gains near $55 handle. Coming up: Consumer Price Index (CPI) data...

USD/CAD rebounds from multi-month lows

A sharp pullback in Oil prices undermined Loonie and helped gain some positive traction. Fed rate cut bets kept the USD bulls on the defensive...

USD/CAD sticks to modest gains

A modest pull-back in Oil prices undermine Loonie and helped regain traction. The USD continues to attract some safe-haven flows and remained...

CAD boosted by jobs report

The Canadian dollar has continued to rally against its US counterpart, following on from Friday’s sold gains after a better than expected jobs report...

USD/CAD struggles to make a recovery

US Dollar Index stays calm above the 97 mark. WTI tries to retrace Wednesday's sharp drop. Coming up: Trade balance data...

CAD hitches a ride as crude prices surges

The Canadian dollar rose on the back of rising crude oil prices. WTI crude oil closed on Monday with 2.45% gains. This allowed the Canadian dollar...

USD/CAD eases from near 4-week tops

The USD fails to benefit from a strong recovery in the US bond yields. Resurgent oil prices underpin Loonie and prompt some profit-taking. Traders now eye...

USD/CAD recovers from 2-week lows

Resurfacing US-China trade tensions helped revive the USD demand. A modest pull-back in oil prices undermine Loonie and remain supportive. Focus...

USD/CAD consolidates after a long rally

There is no singular trend. Luni is testing the key support and resistance levels of 1.32650 and 1.36150. A technical correction is possible soon...


Share it on:   or