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✨ NEW: USDCAD ✨ PRE CAD News ✨-SL @ 1.36681 SLO2 @ 1.3620 (conservative) SLO1 @ 1.3525 (aggressive) TP1 @ 1.3350 TP2 @ 1.3215 TP3 @ 1.2980 TP4 @ 1.2833 BLO @ 1.2795 -SL @ 1.27278 TECHNICAL ANALYSIS: Although, the pair is currently trading above the 200-day moving average, which is a bullish signal, Price Action for USDCAD is sideways. This range is a strong indication that it is consolidating before moving in a new direction — a downtrend. Traders should be aware of both the bullish and bearish signals before making any trading decisions. FUNDAMENTAL ANALYSIS: At this time, it's not clear what the future holds for USDCAD. The US dollar will do well if the economy is strong and interest rates go up. The Canadian dollar is being helped by a strong home market and rising oil prices. This is why the price action of USDCAD has been consolidating. Factors affecting the USDCAD exchange rate are as follows: (1) U.S. Interest Rates: How interest rates are right now in the U.S. because of what the Federal Reserve does, interest rates are expected to keep going up in 2023. Buyers will want more USD, which will push the USDCAD exchange rate down. (2) Canadian Interest Rates: The Bank of Canada is also likely to raise rates in 2023. But the rate of growth is likely to be slower than in the United States. This could help the Canadian dollar get stronger and stop the USDCAD exchange rate from going down even more. (3) Oil Costs: The price of oil has never been this high. This is good news for Canada's economy and may help the value of the loonie stay the same. But if oil prices went down, the USDCAD exchange rate could be hurt. (4) Canada's Housing Sector: The home market in Canada is doing well right now. This is good news for Canada's economy and may help the value of the loonie stay the same. But the USDCAD could be hurt if the home market starts to slow down.
by ProfessorCEWard
3
A very comfortable time to buy in - short termVery beautiful chart from Toronto Exchange Market these days. If you have TSX tickets it is now time to buy in and hold for the uptrend. TSX broke out of the downtrend channel and I have no reason to believe it is a "fakeout". Good indicator support and good trend lines. I'm expecting a small amount of correction between 19400 and 19200 since the RSI index is still very high, but it would not be back in the downtrend channel. Level 0.236 Long Term Trend-based Fibonacci is where I would be expecting a correction. As far as the scope of this analysis goes, I will be adding to my portfolio aggressively. I will do analysis of major tickers affecting TSX in the ext month or so, so make sure to follow me to not miss my analysis on the Canadian tickers!
TSX:TSXLong
by soheilsdgh
TSX another low incoming BOC meeting sept 7th We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low. Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's . I am eyeing the monthly calls with a sept 16th expiry. I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior
TSX:TSXShort
by AthenaCapital
Easy 10% early next week on HBIT - "RRSP Bitcoin"This ETF is not really Bitcoin, it's a derivative. For a short term trade, make your gains here with and buy real Bitcoin on a real cold wallet. With now HBUT at sub $10 is a buy. You can't tell from the charts, there's no volume on HBIT/BITI because traders need volume. There's none on that junk so its just for snipers at this point (people with Level 2 and able to pick off the arbitrage with real Bitcoin patterns, like 1 hr oversold on real BTC and snooze on fake ETF. Anyway, I'm long HBIT, (& off BITI) before the weekend or sell everything if you think cash-is-trash is better. This is the sub $60K stop loss attack before the run to six figures on Bitcoin. Enjoy the ride people. Bitcoin is the true market. The rest is an illusion that is getting slowly corrected with math.
HLong
by UnknownUnicorn2413721