The USD/CAD pair is trading in the red at 1.2450 level at the time of writing. The pressure is high as the Dollar Index has extended its drop. Technically, the price stands below strong resistance levels, so further growth is uncertain. The USD depreciated a little in the short term even if the United States […]
USDCAD Price Analysis – November 3 USDCAD weakens after hitting its all-time high at a significant level of 1.470. USDCAD weakens after the market broke out of the previous all-time high level of 1.300 on October 11th, 2018, and heads for a new all-time high on March 20th, 2020. USDCAD broke out with such force […]
The USD/CAD pair seems undecided in the short term, maybe the traders are waiting for the United States economic data before taking action. In the short term, the upside pressure remains intact as the Dollar Index could resume its growth after the current retreat. The US ISM Manufacturing PMI could bring life to the USD/CAD. […]
USDCAD Price Analysis – October 27 USDCAD finds bullish reinforcement at the 1.23000 support level after several days of market dumping. On the 1st of October, the price fell below its uptrend line and, simultaneously, the EMA period 20 (Exponential Moving Average). USDCAD has been in a downtrend since then and interventions at 1.25790 and […]
USDCAD Price Analysis – October 20 USDCAD plunges continuously after sliding off its uptrend movement. The market began to be bearish on the 30th of September, crashing down to the uptrend line. By the next day, the price has dropped below the uptrend line and was only supported by the 1.26500 price level. The next […]
USDCAD Price Analysis – October 13 USDCAD plummets from its uptrend direction after it fails to violate the 1.28300 resistance level. The market recently survived a scare when it dropped slightly from its uptrend line under pressure from 1.26500. But price did well to recover above the price level and then used it as a […]
USD/CAD is traded in the red at 1.2633 at the time of writing, but the bias is bullish after the US ADP Non-Farm Employment Change reported better than expected data earlier today. The indicator was reported at 568K compared to 425K expected. The Dollar Index is bullish and it stands right below a dynamic resistance. […]
USDCAD Price Analysis – September 29 USDCAD remains on an upward trajectory as it keeps bouncing off an uptrend line. This upward trajectory has enabled the market to systematically and continuously break through the resistance levels it encounters. The market is therefore seen displaying consistent higher highs and higher lows. However, the market was blocked […]
USDCAD Price Analysis – September 22 USDCAD remains bullish despite its setback in sliding out of its previous ascending channel. The market suffered a setback when it attempted to cross the middle line of the ascending channel, which appeared to intersect with the 1.28000 key level. This posed too strong a resistance zone for USDCAD, […]
