USD/CAD Forex Forecasts - Forex Trading Forecasts - Page 3

USD/CAD faces minor resistance around 1.30500

Major resistance - 1.3100. Major support - 1.2920 (200 4H MA). Lonnie has broken psychological resistance 1.3000 and jumped till 1.30989...

USD/CAD stays afloat amid weak Canadian growth

Canadian GDP data for March was released on Tuesday, revealing a second consecutive month of economic contraction at -0.2%, further disappointing prior expectations of -0.1%. The previous month of February had shown a smaller contraction at -0.1%...

USDCAD: Will the Loonie finally make up its mind

The US dollar has eased off its best levels after rebounding across the board following the release of some strong US macroeconomic pointers on Tuesday...

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USD/CAD upsurge impeded by recovering oil price

The USD/CAD turned sharply higher ever since traders realised that there was a lack of supply beneath the psychological level of 1.25 last Tuesday, leading to a 500-pip rally to the next psychological hurdle of 1.30...

USD/CAD rebounds sharply on Canadian trade deficit

USD/CAD continued its sharp rebound for the second consecutive day on Wednesday as crude oil remained in retreat, the US dollar saw a modest relief bounce, and the Canadian dollar was hit by data showing a worse-than-expected trade deficit...

Doha oil meeting failure and USDCAD update

AUD and CAD got hammered as the Doha meeting on oil restrictions failed and caused substantial concerns over the oil cartel OPEC’s ability to restrict and control the oil production...


Is USDCAD a sell after a rally

USDCAD has been moving lower in recent days while the WTI crude has rallied. Now the pair is oversold and therefore vulnerable to contra trend moves. Stochastics is well below the oversold threshold in the daily chart and USDCAD has moved below the lower Bollinger bands...

USD/CAD forms tentative bottom

Since it hit a new five-month low below 1.2900 late last week on the last day of March, USD/CAD has rebounded to hit a high briefly above 1.3200 resistance as of Tuesday. This rebound has occurred as the price of crude oil has retreated in the past several trading days...

USD/CAD rebound could be short-lived

The USD/CAD has collapsed after its parabolic rise ended in mid-January, when oil prices first showed signs of stabilisation. Since peaking at just shy of 1.4700, the Loonie has tumbled to below 1.30, hitting a low of 1.2925 last week...

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USD/CAD edging lower as BOC takes a sanguine view on Loonie

As expected, the first major central bank decision of the week was not much of a decision at all. Earlier this morning, the Bank of Canada opted to leave interest rates unchanged at 0.50%, as all 11 primary dealers surveyed by the Wall Street Journal expected...

USD/CAD extends dive on oil rebound, Canada GDP

USD/CAD further extended its prolonged pullback on Tuesday to hit and slightly dip below major support at the 1.3400 level and its key 200-day moving average. The currency pair has not broken below its 200-day moving average since late-2014...

USDCAD oversold with a sell area above

USDCAD broke below an important support in yesterday trading. The 1.3640 to 1.3660 area had supported price in January and then twice February. This has caused the pair to be oversold in both daily and 4h timeframes...


USDCAD: consolidation after the IEA report

The IEA report, published this week, reflects the agency's doubts in the ability of OPEC and other oil producing countries to reduce quotas in the short term...

The USDCAD pair may test the level of 1.3796 today

At the moment, the WTI crude oil prices are rising by 1.04%, testing the level of $31.21. They are supported by the Baker Hughes statistics on the number of active drilling rigs in the United States, which fell by 48 to 571 last week...

Analytical review of the currency pair USD/CAD for February 04, 2016

Long-term trading: the data on non-farm payrolls, which will be released on Friday, 5 February, is unlikely to have a strong impact on the CAD. Currently we recommend to refrain from opening long-term trades on the pair USD/CAD...

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USDCAD: consolidation in the range of 1.3907-1.4087

According to Baker Hughes, the number of active rigs in the US fell form 18 to 619 last week. Low oil prices will sooner or later lead to a reduction in the US oil production and the subsequent growth of the "black" gold prices...

USD/CAD: A downward trend is strong on February 01, 2016

Assumingly, a downward zigzag within a large Bearish correction continues forming. Locally, the fifth wave (c) seems to be developing and if the assumption is correct, the pair continues falling towards the level of 1.3800...

USD/CAD: pair falls on January 29, 2016

On Thursday, the US Dollar was falling, and the USD/CAD pair reached its new local lows. Demand for the American currency declined as the results of the Fed monetary policy meeting lowered chances that the Regulator will increase interest rates in March...


USD/CAD falls further as crude oil rises on hopes for output deal

After spending Monday paring some of its losses from last week, USD/CAD renewed its plunge on Tuesday as crude oil rebounded due to hopes for an output restraint deal among oil-producing nations led by OPEC...

USD/CAD bounced off the middle MA of Bollinger Bands

On the daily chart, the pair bounced off the middle MA of Bollinger Bands. The price remains above the EMA130 and EMA65, both directed up. The RSI failed its support in the Bullish zone at 50 mark and formed a divergence with the price...

USD/CAD lost more than 450 points

Last week, the Canadian Dollar grew notably, and the USD/CAD pair lost more than 450 points. Data on inflation, released in the US, confirmed the forecast, while Initial Jobless Claims were up to 293K, the highest for 11 months...


USD/CAD pulls back to key support as crude oil bounces

USD/CAD pulled back sharply on Thursday as crude oil staged a bounce from extreme multi-year lows and the markets digested the Bank of Canada’s decision a day earlier to keep its key interest rate unchanged at 0.5%...

USD/CAD: BOC begets big bearish reversal

Heading into today big BOC decision, it felt like USD/CAD bears just needed to get put out of their misery. After all, the Canadian dollar had lost 11% of its value against the US dollar in last three months alone...

USD/CAD: pair in correction

The Canadian Dollar managed to gain back its losses after the USD/CAD pair opened the week with a rise. However, the Canadian currency remains under pressure amid low oil prices. As sanctions on Iran were lifted last weekend, concerns about growing oversupply of the global oil market have deepened...


USD/CAD: wave analysis for January 14, 2016

An upward impulse within the fifth wave of the senior level v of 5 of (3) continues forming. Locally, the fifth wave (v) of v of 5 of the junior level seems to be developing. If the assumption is correct and the price does not break down the critical level of 1.4185, the pair continues growing towards 1.4500...

USDCAD: growth against the background of falling oil prices

Looking for the bottom in the oil market is useless at the moment, because investors are not sure about the state of the Chinese economy, which is slowing down, as well as about the future path of interest rates increase in the United States. At the moment...

The Canadian dollar has updated the 2015 low against the US dollar

The reduced price for WTI crude oil to 35.75 dollars per barrel and the strengthening of the US dollar against the euro has allowed the USD/CAD pair update the 2015 low to around the 1.4 mark...


USDCAD: consolidation before publication of the US oil reserves figures

The US Department of Energy weekly report on oil reserves in the US will be published today. Expectations of their decline over the last week by 1.8 million barrels support the currencies of oil exporting countries...

USD/CAD: wave analysis

Assumingly, an upward impulse in the fifth wave of the senior level v of 5 of (3) continues forming. Locally, the third wave (iii) seems to have ended, and a correction as the fourth wave (iv) seems to be developing...

USD/CAD: pair renews highs

The USD/CAD pair keeps growing renewing new highs. The main reason for the growth in the pair is strengthening US Dollar that was supported after the Fed meeting on Wednesday at which the regulator, as was expected...


  


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