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Usdcadforecast

USDCAD - ISM MANUFACTURING TODAY - The most important indicator data for the US dollar is due to be released today. ISM MANUFACTURING DATA is one of the most important DATA. So we need to look at the US dollar today. Also, the Canadian dollar is not showing any significant news today. - DXY is currently at 103.72 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is slightly down to 0.7767 LEVEL. However, compared to DXY, CAD is now WEAK due to OIL being DOWN. - OVERALL MARKET is currently NEUTRAL. Last Friday also a NEUTRAL TONE was played in the NEWYORK SESSION on the MARKET. US STOCKS are currently showing a GREEN SIDE BIAS. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. There is a NEUTRAL BIAS currently on the market. It's a bit more than the DOWN SIDE BIAS. Because it is VIX UP and EQUITIES NEUTRAL. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. 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. - USDCAD PRICE can be DOWN to 1.2772 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2963 LEVEL. The USD is slightly stronger at this time 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. DXY is BUY because of the STRONG SENTIMENT that the US dollar has received so far, but it could be DXY CORRECTION in the future because it has been BUY for the last few days.
by benny_marshall
DXY/USDCAD/EURUSD - REVERSAL EXPECTED?DXY - Dollar Index has approached to its 5 year high of 103 - 104 with strong monthly candle. USDCAD - is approaching to the 2021 resistance level which it breaks during Covid-19 period. EURUSD - has been testing 2015/16 lows after breaking Covid-19 lows. Both the pairs are heavily dependent Dollar Index which remains in limelight after FED Interest rates expectations. What should we expect from here? Since all three are at important levels which can be the reversal points or continuation of the main trend. We have been waiting for DXY to make a move first. If we have closing above resistance with FED rate hike in May'22 the trend will continue. Let us know what do you think in comment sections.
TVC:DXY
by JustTradeSignals
3
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