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CAD/USD Medium-Term Analysis: Weekly Market AnalysisThis is the second analysis on this series of majors against the U.S. Dollar (USD). In the previous post we analysed the Chinese Yuan Renminbi (CNY) against the USD; now we're taking a look at the Canadian Dollar (CAD) against the USD. The CAD is second in our ranking of currencies in relation to the 'Rate Of Change' (ROC) with the U.S. Dollar as quote currency. With over 2% appreciation in the last quarter (ROC, 15, W), with technicals indicating the nearing of supply zones, we'll be tracking the CAD for countertrend shorting opportunities in the short-term, and longing pullback opportunities in the medium-term, as it approaches previous key levels of demand. Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible. An amazing week for all of you and until the next post! :)
Short
by acsedward
USDCAD BREAKING UP📌 USDCAD A short idea which is essentially intended to cast some more light over the election positioning moves We played a very nice momentum move this morning after breaking through the WEAK Tokyo defence 👇 The process of continuing is automatic for algos, it enables the occupation of 1.35xx as capital ensures ULTIMATE safety in the greenback at a time of HIGH RISK via covid & U.S. elections. Basically, both drivers can be considered a tempo breaker for those wanting to load full sized positions on risk markets. Oil crashing via lockdowns triggering the next demand shock to the energy markets. Dems still in their diapers and we are out of time on stimulus, as I keep saying, by the time these things get to Washington they are so enwrapped in self interest, so enwrapped in all of the dirty political BS that naturally bring all issues to extremes. Oil has trifling odds of touching 33/32, a breakthrough there will open next 21 for a more solid support. I will be posting a new strategy report for Oil into the elections at the end of this week. Surprisingly, tradingview is very quiet...
Long
by ridethepig
1
USD/CAD STRUCTURE ANALYSIS|DXY DEPENDENCY The pair is trading in a downtrend, following the general dollar decline in the recent months. However, each pair has its own limits and not all of them can strengthen towards the dollar indefinitely for a number of reasons. Some will stop appreciating sooner than others.I do not want to say that USD/CAD is now suddenly in an uptrend, no. The message above was merely to show you that after a certain point it is possible for some currencies to stop appreciating even as the DXY keeps falling. Anyway, the pair has recently had an uptick following the DXY, and if the resistance gets broken, the next target might be the blue resistance line. The same dotted resistance can be spotted on the DXY now, so I guess whenever trading a dollar pair now, you are merely trading DXY albeit with different speed of moves and "cleanness" of trading. Lets see if the Gods of the Dollar are be merciful, and the needed correction comes to fruition. Thank you for reading, like and subscribe and have a nice day!
Long
by ProSignalsFx
1
🦠 CORONAVIRUS ⚠️How COVID 19 Impacts USD, EUR, GBP, CAD and CYN💬 As confirmed coronavirus cases ticked up in the US at a faster rate than in the other countries shown on the chart (a selection of EU countries Germany, Italy and Spain, the UK, Canada, and China) we have seen a subsequent weakness in the US dollar compared to the currencies of those countries (as seen by EURUSD, GBPUSD, CADUSD, and CNYUSD). As you can see within the "Stage 1" range, there was a divergence between confirmed cases in the USA (Yellow plotted line contained within the indicator tile) and confirmed cases in other countries. This then led to an apparent impact on how people viewed the US Dollar's strength as is shown by the "Stage 2" range. This weakness in the US Dollar helped in creating a significant uptick in these other base currencies when compared against the USD base pair. Further, you can see that not only did the initial divergence in corona confirmed cases between the USA and other countries have an impact, but as that divergence continues to increase as seen in "Stage 3" speculators are taking this into account and betting on seeing even more upside as seen within "Stage 4". Hit that 👍 button to show support for the content! Help the community grow by giving us a follow 🐣 ----- Conclusion: The weakness in the dollar has seemed to correlate with an uptick in confirmed COVID cases compared to the other countries. Given this correlation, one might assume that we won't see the downtrend in the US Dollar reverse until the confirmed Coronavirus cases numbers for the USA start to downtrend. ✨ Comments and feedback appreciated! ✨
Editors' picks
by AlphaBotSystem
10