USD/CAD Forex Forecasts - Forex Trading Forecasts - Page 4

The USDCAD pair may test the level of 1.3845 in the short term

The weekly statistics on the US oil reserves will be published today by the US Department of Energy. It is expected that the past week stocks will fall by 0.3 million barrels. We believe the statistics will not provide any significant support for the Loonie...

The Baker Hughes statistics supported the Loonie

According to Baker Hughes, last week, the total number of active drilling rigs in the United States declined from 737 to 709, and the number of oil installations declined from 545 to 524. We believe that oil production in the US will decrease, and the prices for it will grow in the coming weeks...

USDCAD update, 1.40 in sight on break above 1.38

The CAD sinks as Canada manufacturing shipments tumbled 1.1% in October, petroleum and coal shipments plunged 5.7%, marking the fifth straight decline in the sector...

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USD/CAD: wave analysis

Assumingly, an upward impulse in the fifth wave of the senior level v of 5 of (3) continues forming. Locally, an upward impulse seems to be forming within which the third wave (iii) is nearing the end...

USD/CAD: pair continued growing

On Tuesday, the USD/CAD pair was growing actively and managed to consolidate above the level of 1.3600 for a while. Last time the price reached this level only in summer 2004...

USD/CAD hit two-week high, oil drops

The broad based USD rally in Europe coupled with a moderate drop in oil prices pushed theUSD/CAD pair to a two-week high of 1.3422 in the European session...


USD/CAD: general review

Last week the pair was trading within the range 1.3293-1.3415 while volatility in the pair was low. Fed Chair Janet Yellen commentaries last week raised the chances of an interest rate increase in December despite mixed data from the US...

USD/CAD: flat continues

The USD/CAD pair is closing close to its opening levels during several trading sessions in a row. Market participants are waiting for new drivers despite numerous publications, released in the US this week...

USD/CAD: wave analysis

Assumingly, a double zigzag wxy within wave B of 4 has formed. Locally, a starting wave (i) of the junior level seems to have formed and a correction in the wave (ii) has finished...

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USD/CAD: pair fell

Yesterday the pair showed choppy dynamics and slightly fell from local highs. The pair however still receives support amid market expectations of an interest rate increase at the Fed’s December meeting...

USDСAD: under pressure against the background of rising oil prices

According to the US Department of Energy, the countrys oil reserves grew by 0.3 million barrels over the past week, with a forecast of growth of 2 million barrels. The statistics provided support for oil prices...

USD/CAD: wave analysis

Wave A of 4 continues forming, within which wave b of A seems to be nearing the end. Assumingly, a Bearish impetus is developing within wave (c) of b, and if the assumption is correct, a decline within wave c of A is to be expected after the impetus has finished developing...


USD/CAD: wave analysis

A double zigzag wxy within wave A of 4 continues forming. At present, wave x of A seems to have finished, and wave y of A seems to have started developing. If the assumption is correct, it is logical to expect a decline to 1.2900-1.2700...

USD/CAD: downtrend develops

Last week, the USD/CAD pair developed its downward trend and hit new local lows at the level of 1.2831. At the same time, the due to the large number of controversial US macroeconomic releases, the pair dynamics was mixed...

USDCAD: under pressure against the background of declining oil production in the US

According to the US Department of Energy, the US crude stocks rose by more than 7.5 million barrels by the end of last week, but the production in the country fell by 76 thousand barrels per day to 9.1 million being the minimum of 11 months. The data provided support for the oil prices and the Loonie...

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USD/CAD: USD under pressure again

On Wednesday, the USD/CAD pair significantly fell amid poor macroeconomic statistics from the US. Retail Sales data for September showed a growth of only 0.1%, while experts forecasted the 0.2% growth...

USD/CAD: pair recovered

On Wednesday, the USD/CAD pair slightly grew after reaching local lows at 1.2971. The growth was the result of some reduction in risk appetite on the market after the publication of unexpectedly weak Industrial Production data from Germany. In addition, investors are being cautious prior to the release of key economic news...

USD/CAD: CAD is growing

Last week the USD/CAD pair significantly fell. The fall was the result of poor macroeconomic data from the US that raised new doubts about the timing of the interest rate increase in the US. On Friday, data on the Non-Farm Payrolls for September was published...


The Loonie is updating its yearly low against the US dollar

In August, the prices for "black gold" react negatively to the information on reducing profits of Chinese industrial enterprises by 8.8% (y/y), which has been the most significant decline since October 2011...

USD/CAD: wave analysis for September 29, 2015

Assumingly, an upward impulse within the third wave of the senior level (3) continues forming. Locally, the fifth wave v of 5 of (3) seems to be forming, within which, according to the first wave (i), a diagonal is going to be formed. If the assumption is correct, the pair continues growing towards 1.3500, 1.3600...

USD/CAD: CAD has no support on 22.09.2015

The pair was supported by poor data from Canada, where Wholesale Sales for July remained at the same level as for June, while experts forecasted a 0.8% increase. Later in the day, however, a growth in the pair was restrained by poor data from the US...


USDCAD: consolidation around the level of 1.326

Last week, the number of active oil rigs in the US fell from 675 to 662. The prices for WTI oil had practically no reaction to the news and continued to consolidate around the level of 45.5 dollars per barrel...

USD/CAD: wave analysis on 18.08.2015

Assumingly, a formation of the third wave of the senior level iii of 5 is finished. Locally, a correction in a form of the fourth wave iv seems to be forming, within which the first wave (a) in a shape of a diagonal and a correction of wave (b) seemed to have formed...

USD/CAD: wave analysis on 13.08.2015

Assumingly, the third wave of the senior level iii of 5 has formed. Locally, a correction as the fourth wave iv seems to be developing, within which the first wave (a) in the form of a diagonal has formed. If the assumption is correct, after the local correction within wave (b) the pair will continue falling to 1.2785...


USDCAD: Consolidation in the range of 1.3109-1.3213

Last week, the commercial US crude oil stocks fell by 4.4 million against the forecast of a reduction by 1.5 million barrels per day. In the coming weeks, oil production in the United States may decline. At the moment, the commodity currencies look oversold...

USD/CAD: adjustment from the level of 1.3173

The adjusting rise in the prices for WTI crude oil from the level of $45 per barrel has supported the Loonie. Production of shale oil in the US will become unprofitable below this level. In the short term, the USD/CAD can try out the "double top" figure...

USDCAD: consolidation below the level of 1.2992

Last week decrease in the US oil inventories by 4.2 million barrels provided support for oil prices, allowing the USD/CAD pair to test the level of 1.2866 in an instant. However, market participants began to buy the world's reserve currency again before the publication of data on the US GDP for Q2 2015...


USD/CAD: wave analysis on 23.07.2015

Assumingly, a formation of the third wave of the senior level iii of 5 continues. Locally, as it seems, the third wave of the junior level (iii) of iii is forming, within which the impetus elongation is developing. If the assumption is correct and the price does not break through the critical level of 1.2900...

USD/CAD: wave analysis on 15.07.2015

A formation of the third wave of the senior level iii of 5 continues. Locally, a correction in the form of the fifth wave (iv) of iii is probably finished and the fifth wave of the junior level (v) of iii is developing...

USDCAD: growth following an agreement on the Iranian nuclear program

Today it became known that Iran and the "six" international mediators reached a deal on Iran's nuclear program. A press conference will be held during the day The oil prices have reacted to this event by a decline, putting pressure on the Loonie...


  


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