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Canadian-dollar

CAD MEDIUM TERM SHORT: Massive divergence between DXY and CADThe chart shows INVERTED dollar index (blue) vs CAD index (candles). There is a clear correlation between inverted dollar and CAD - that is, a stronger dollar negatively impacts CAD - likely since a stronger dollar weighs on commodity prices in general. At present, there is a strong divergence between CAD index and inverted dollar. This needs to be corrected. Sustained dollar strength should lead to a fall in CAD in the medium term.
TVC:CXYShort
by Exercise-Discipline
Canadian Dollar is Ready to WeakenI'm seeing signs suggesting that the Canadian dollar, which has been strengthening over the past few weeks, is now getting ready to reverse and decline in value. For many CAD pairs like AUDCAD, GBPCAD, or USDCAD, this means a long opportunity is information. In the case of this particular chart, we are seeing hammers forming off a support level, at a 50% Fibonacci retracement level from a swing low to swing high. We are also seeing that price is above the 50 SMA and 200 EMA. I've placed my stop beneath the 50 and 200, which gives an extra barrier of protection, and am targeting resistance up at 1122. I'm risking 70 pips to gain 276, which gives me a reward/risk of approximately 3.94. www.informedtrades.com
Long
by cfdtrading_news