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USDCAD Market Direction Turns Bullish

USDCAD Market Direction Turns Bullish
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USDCAD’s 1.2630 capping the downside, US inflation data in sight

Key Support: 1.2630 Key Resistance: 1.2650 – 1.2750 The USDCAD bounced off the 1.25 level last week creating a nice 247 pip weekly range on a +1.97% bullish run (low to highs). We are looking at a possible USD bullish breakout today which could bring bullish momentum in this market. The 1.2690 to 1.27 level […]

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USDCAD breaking reversal structure: BUYS IN PLAY

Key support: 1.25 Key Resistance: 1.27 – 1.28 The USDCAD has bee trading down for the past 2 weeks (-2.66%) but we are still looking for longs here. The reason is that the overall trend in this market is bullish (more so with crude recovering from its drop to 61). The immediate bearish structure was […]

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USDCAD maintains Bullish Structure (Dip Buys In Play)

Key Support: 1.2570 Key Resistance: 1.2780 The USDCAD has been in a very aggressive bullish move since it bottomed around 1.20 at the end of May. It moved almost +8% from low to high in just 80 days. After topping at the 1.2950 last month we saw a very parabolic move towards those highs just […]

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USDCAD Keeps Accumulating at Key Level as Price Keeps Ascending

USDCAD Price Analysis – September 1 USDCAD keeps accumulating price continuously at the 1.25790 key level. Following a reversal at the significant resistance level of 1.27420 in July, the price broke and accumulated around 1.25790 before moving on to the next significant zone. Following that, USDCAD reversed around 1.24340, starting an ascending trend pattern. Price, […]

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Canadian Dollar Falls As Crude Oil Prices Linger in the Negative Zone

Today, the Canadian dollar is the worst-performing currency, and slightly weaker-than-expected retail sales numbers aren’t helping matters. The loonie is being dragged down by persistent oil price weakness, as well as the general negative sentiment. Retail sales in Canada rose 4.2% MoM to C$ 56.2 billion in June, below 5.0% MoM expectations. Sales increased in […]

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CAD Rallies Stall on CPI As Dollar Consolidates Post FOMC

After a stronger-than-expected consumer inflation figure, the CAD climbs slightly in the early US session. However, the Loonie’s strength is limited. The consumer price index in Canada rose 0.6% mom in July, which is the fastest pace since January. The annual consumer price index accelerated to 3.7% y/y in July, compared with 3.1% y/y in […]

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