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USD/CAD Forecasts – Forex Forecasts – 4 August 2021

Remains poised to test 100-DMA, focus on US/Canadian data

USD/CAD is extending the recent downtrend into the third straight day on Friday, hitting the lowest levels in three weeks near 1.2430, as the selling pressure...

30 Jul 2021FXCM

USD/CAD: Break above 1.2514 to turn the risk to the upside

USD/CAD surged higher on Tuesday, in line with the tactical bullish view of the Credit Suisse analyst team. A move above 1.2495/2514 is now needed...

7 Jul 2021OctaFX

USD/CAD to trend higher over the next month towards the 1.2639

USD/CAD stays biased higher over at least the next month in the view of the Credit Suisse analyst team. Next resistance is seen at 1.2514, then the more important...

21 Jun 2021FXCM

USD/CAD spikes to 1.2170 area, back closer to one-month tops

The USD/CAD pair rallied over 40 pips from the early European session lows and climbed to fresh daily tops, around the 1.2170 region in the last hour. Expectations...

15 Jun 2021FXCM

USDCAD moves sideways above 6-year low

USDCAD extended its one-month trading range above the more-than-six-year low of 1.2006, increasing speculation that the bears are losing steam and the bulls...

8 Jun 2021XM

Corrective pullback targets 1.2110 resistance confluence

USD/CAD takes bids around 1.2080, up 0.08% intraday, during early Monday. In doing so, the Loonie pair rises for the second consecutive day as MACD teases bulls...

24 May 2021FXCM

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USD/CAD drops to a fresh daily low at 1.2060 despite oil selloff

After spending the majority of the day above 1.2100, the USD/CAD pair lost its traction during the American trading hours and dropped to a daily low of 1.2060...

20 May 2021OctaFX

USD/CAD Price Analysis: Tests 50-HMA after rising wedge breakdown

USD/CAD bulls trying to defend the 50-HMA support. The spot has charted a rising wedge break down on the hourly sticks. Rejection at 200-DMA prompted...

14 May 2021OctaFX

USDCAD tests 2017 lows in oversold area, downtrend to hold

USDCAD crashed below the 2018 trough of 1.2248 on Thursday, stretching its long-term downtrend towards the critical 1.2150 - 1.2060 zone, where the price...

7 May 2021XM

Greenback and Loonie on backfoot ahead of Labour data

The April nonfarm payroll estimates vary from 850k to 978k, though market estimates are skewed to the high side of the forecasts likely due to big declines in initial claims...

7 May 2021HotForex

Loonie may return to losses after April's employment report

The loonie has been enjoying a strong upside movement against the US dollar over the last month as investors are waiting for April's employment report...

6 May 2021XM

USDCAD bounces off 5-week low below 1.2400

USDCAD held in losses on Monday, dropping to a five-week low of 1.2383 before turning higher around the 1.2400 handle. The RSI in the four-hour chart...

27 Apr 2021XM

Canadian dollar bruised ahead of BoC decision

Canadian Prime Minister Justin Trudeau has just announced that the country will keep its border restrictions intact for at least another month, until May 21...

21 Apr 2021FXTM

Bank of Canada policy meeting: A bond tapering story

The Bank of Canada (BoC) will set its policy on Wednesday at 14:00 GMT, two days after Trudeau's government tables its first budget in two years...

20 Apr 2021XM

USDCAD stuck in a bear trap

USDCAD remained stuck below the long-term descending trendline and under the Ichimoku cloud for another week, but encouragingly, the 1.2515 support held firm...

16 Apr 2021XM

Canadian employment report may boost loonie

The Canadian dollar has been underperforming against the US dollar over the last couple of days as investors are waiting for March's employment report on Friday...

7 Apr 2021XM

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USD/CAD refreshes session tops, bulls await a sustained move beyond 1.2600 mark

A combination of factors assisted USD/CAD to catch some fresh bids on Tuesday. The upbeat US economic outlook, rising US bond yields benefitted the greenback...

30 Mar 2021OctaFX

USDCAD bulls contest concrete bearish bias

USDCAD is heading towards the 100-period simple moving average (SMA), following an impressive performance after a stable foothold at the multi-year low of 1.2364...

23 Mar 2021XM

USD/CAD slides to 1.2470-60 area amid recovering oil prices

USD/CAD failed to capitalize on the overnight solid rebound or find acceptance above the 1.2500 mark. Retreating US bond yields weighed on the US...

19 Mar 2021OctaFX

USDCAD rebounds above 3-year low

USDCAD is heading marginally north after the slip to the 1.2525 support level, however, the pullback off the descending trend line in the previous sessions signals...

12 Mar 2021XM

Canadian employment data may drive loonie higher

The Canadian dollar is gaining some ground against the US dollar with weak momentum as investors are waiting for February's employment report on Friday...

11 Mar 2021XM

USDCAD violates Ichimoku cloud's floor

USDCAD is currently piercing the Ichimoku cloud's lower surface, while the pair remains confined within a consolidation pattern between 1.2574 and 1.2746...

9 Mar 2021XM

USDCAD trapped in a bear market

USDCAD attempted to quickly recover from a three-year low of 1.2467 as it did back in 2016, but the tough ascending trendline and the bottom of the Ichimoku...

5 Mar 2021XM

Loonie remains choppy ahead of Canadian GDP

Fourth quarter GDP numbers will be watched out of Canada on Tuesday (13:30 GMT) as the recovery is expected to have lost steam. Nevertheless...

2 Mar 2021XM

USD/CAD Price Analysis: Slides further below 1.2500 mark

USD/CAD continued losing ground through the first half of the European session. Oversold RSI on short-term charts warrants caution before placing fresh bearish bets....

25 Feb 2021OctaFX

USD/CAD Trades above 1.27, looks north

USD/CAD's daily chart show dip demand below 1.27. The 4-hour chart MACD and RSI are biased bullish. USD/CAD is currently trading mostly unchanged...

12 Feb 2021OctaFX

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Canadian jobs data may not dampen spirits

The loonie may not be brought to tears when Canada releases its first employment report of the year on Friday at 12:30 GMT, as weaker figures are inevitable...

4 Feb 2021XM

USDCAD retreats towards descending channel

USDCAD climbed above the short-term descending channel earlier today in the four-hour chart but failed to jump above the 1.2780 resistance, returning lower...

26 Jan 2021XM

USDCAD calls for an upside reversal after new 33-month low

USDCAD stretched its March downtrend to a fresh 33-month low of 1.2588 on Thursday before completing the day with a bullish doji candle. The positive candle...

22 Jan 2021XM

Bank of Canada: Opening the door for a rate cut

The BoC will conclude its policy meeting at 15:00 GMT Wednesday and there are some whispers in market circles about a micro rate cut. Covid infections have risen...

19 Jan 2021XM

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