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Usdcaddaily

USDCADThe US dollar has pulled back a bit during the trading session on Wednesday after the Federal Reserve raised interest rates by 50 basis points. This was widely expected, so that was knocking to move the needle much. That being said, the market is likely to continue to see a lot of questions asked as to where we are going to go in the future, but I think at this point we are more likely than not going to continue to see more of the same back-and-forth that we have over the last several months. Quite frankly, not much has changed as the 1.29 level has held quite significantly. Underneath, the 1.25 level is massive support, so the fact that we are at the top of the range should not surprise people in the sense that it has turned things around. If we were to break above the 1.29 level, then it would be very bullish for the US dollar, but it should be noted that the crude oil market was very strong during the day, and therefore I think it is very likely that we drift lower from here. I would not necessarily suggest some type of meltdown, just a continuation of the overall range-bound trading that we had seen. In other words, I think is going to be more of the same. Keep in mind that this pair does tend to be very choppy as the two countries do so many cross-border transactions, but if you are a range-bound trader this might be the best place to be right now. We have clearly defined levels that we can pay close attention to, and as long as that is going to be the case I see no reason to fight what could be a very lucrative market. You need to be a bit cautious about overextending yourself because we do get the occasional violent move, but at this point, it is obvious that there are buyers and sellers at very distinct points on this chart, which is part of what makes it so interesting. I do not see this market breaking out, but if we were to clear the 1.30 handle, then we could start moving to the upside, in a very dangerous “risk-off” type of situation. You would probably see the oil markets under serious pressure at the same time.
by SmoothJB
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- A very important event took place yesterday. The US Federal Reserve raised their rates by .50%. Before that there was some talk among the traders about it. So after raising their rates, the US dollar weakened. This is because the USD has been BUY in the past due to the sentiment of traders on the rates they are raising. Other economic indicator data released yesterday also remained weak. Although the Canadian dollar does not have any special news for today, their employment data reports are due to be released tomorrow. - DXY is currently at 102.816 LEVEL. USD has become STRONG with RATE HIKE SENTIMENT in the last few days. Also, the CAD FEATURE is slightly up to 0.7850 LEVEL. However, CAD is a bit WEAK compared to DXY. - Currently the OVERALL MARKET is RISK ON. STOCKS is currently displaying a GREEN SIDE BIAS. But American STOCKS are going down a bit. And VOLATILITY is DOWN. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is only one RISK ON BIAS on the market. Therefore, in the future, all currencies such as NZD CAD AUD can definitely be UP. Also JPY CHF can be DOWN. - USDCAD PRICE can be DOWN to 1.2664 LEVEL before re-UP. Then the USDCAD PRICE can be UP again up to 1.2963 LEVEL. The USD is slightly WEAK at this time due to the MARKET SENTIMENT. But over time, that is likely to change. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD. It could be DXY CORRECTION in the future because it has been BUY for the last few days. So stay tuned for that.
by benny_marshall
1
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- There is a very important EVENT for CAD today. BOC GOV. MACKLEM is going to do a SPEAK. It will make USDCAD VOLATILE. GDP, CORE PCE DATA for USD is due out this week. GDP DATA will also be released for CAD. - DXY is currently at 101.553 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is slightly down to 0.7852 LEVEL. However, compared to DXY, CAD is now WEAK due to OIL being DOWN. - Currently the SENTIMENT of the OVERALL MARKET is NEGATIVE. Last week a RISK OFF TONE was PLAY. STOCKS Slightly shows a DOWN SIDE BIAS right now. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. Currently there is only one DOWN SIDE BIAS in the market. So be careful when trading. We can not say for sure that the MARKET SENTIMENT will continue to be a DOWN SIDE CONTINUE. But according to the data available so far we can say that MARKETS RISK is OFF. - OIL PRICE is currently down a bit. It will inevitably affect CAD. But TECHNICALLY USDCAD can go to SELL a bit faster in the next few days because a SUPPORT has a PRICE and RISK ON. - USDCAD PRICE can be DOWN to 1.2685 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2909 LEVEL. The USD may be slightly STRONG in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall
USDCAD | Good Buy Opportunity. Get in!When it comes to the technical analysis of USDCAD, you might get an impulse to the upside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a buy opportunity. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area; which used to be a support area . And also don't forget to place the stop just below the entry area. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by maxprofwizard
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- The EXISTING HOME SALES DATA for USD is due out today. CPI DATA for CAD will also be released. It's a very HIGH IMPACT NEWS. So USDCAD VOLATILE can be for this reason. - DXY currently stands at 100.738 LEVEL. USD has become STRONG in the last few days. Yesterday BUILDING PERMITS DATA caused USD STRONG. Also, the CAD FEATURE is slightly up to 0.7943 LEVEL. However, CAD is becoming STRONG relative to DXY due to OIL UP. But today's CAD CPI DATA will definitely move the USDCAD PRICE to DYNAMIC S / R LEVELS. - Currently the SENTIMENT of the OVERALL MARKET is being POSITIVE. Yesterday a RISK ON TONE was PLAY. STOCKS Somewhat showing a NEUTRAL BIAS at the moment. And VOLATILITY is DOWN. Also COMMODITIES still shows a DOWN SIDE BIAS. There is a NEUTRAL BIAS currently on the market. It's a bit more than the UP SIDE BIAS. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data we have received so far we can say that MARKETS RISK is turning ON. - OIL PRICE is currently down a bit. It will inevitably affect CAD. But TECHNICALLY USDCAD can go to the SELL a bit faster in the next few days because a SUPPORT has a PRICE and RISK ON. - USDCAD PRICE can be DOWN to 1.2526 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2685 LEVEL. The USD may be slightly WEAK in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall