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Canadian Dollar Remains Resilient Amidst Global Economic Headwinds

Despite facing significant headwinds in recent weeks, the Canadian dollar, also known as the Loonie, has demonstrated remarkable resilience. With a major sell-off coinciding with declining crude oil prices and ongoing banking crises, it’s been a challenging time for the Loonie. However, positive economic indicators and supportive data have helped the currency consolidate and maintain […]

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USDCAD Market Direction Turns Bullish

USDCAD price has launched to the moon from the oversold region of 1.3300. The Parabolic SAR (Stop and Reverse) resting below the candles has indicated an upward trend. USDCAD Key Levels Demand Levels: 1.3520, 1.3300, 1.2980Supply Levels: 1.3690, 1.3880, 1.4000 USDCAD Long-Term Trend: Bullish USDCAD experienced stiff resistance at the 1.3800 supply zone in October. […]

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Canadian Dollar Jumps Following Upbeat Global Commodities Outlook

The Canadian Dollar (USD/CAD) soared on Tuesday as China’s robust economic growth boosted the outlook for global commodities, especially crude oil. The world’s second-largest economy expanded by 6.8% in the first quarter of 2023, beating expectations and lifting both WTI and Brent prices. The Canadian dollar, which is closely linked to oil exports, benefited from […]

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USDCAD Tests a Bullish Order-Block

Market Analysis – March 22 USDCAD Bulls attempted multiple times to soar above the 1.2980 significant level. This led to multiple false breakouts in August 2022. The price successfully launched from 1.2740 when the market was oversold to break 1.2980. USDCAD Significant Levels Resistance Levels: 1.3500, 1.3700, 1.3880 Support Levels: 1.3230. 1.2980, 1.2740 USDCAD Long-term […]

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USDCAD Breaks Out From Descending Triangle

Market Analysis – March 8 USDCAD has violated the bearish trendline on the daily chart. The market direction has changed to bullish. The buyers are flexing their muscles after a long period of continuous price decline. USDCAD Key Levels Support Levels: 1.3520, 1.3280, 1.2980 Resistance Levels: 1.3880, 1.4000, 1.4100 USDCAD Long-term Trend: Bullish USDCAD Buyers […]

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USDCAD Engineers A Bullish Reversal With A Support level

Market Analysis – February 22 USDCAD is experiencing a bullish reversal at the 1.330 support level. A double-bottom chart pattern has formed to signal an ascent. USDCAD Key Levels Demand Levels: 1.330, 1.290, 1.250Supply Levels: 1.370, 1.390, 1.400 USDCAD Long-term Trend: Bullish USDCAD used the supporting trendline to ascend from 1.250 to 1.390. The uptrend […]

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