Category: USDCAD
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USDCAD bounces after stronger jobs report on Friday. Trend higher continues. What next?
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USD/CAD bounces higher after some strengthening on Friday following a stronger than expected Canadian jobs report. Technically, the price has moved into the swing zone between 1.3784 and 1.38036 (see red numbered circles on the chart below). That zone goes back to April 2024. The price also moved away from…
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USDCAD is snapping back higher after a stronger jobs report. Buyers back in control
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USD/CAD has been trending higher since bottoming on October 2 near 1.3472. Momentum over the past eight trading days has pushed the price to a high of 1.37826. Taking that price to the bottom of the next targeted swing zone between 1.3784 and 1.38036 (back to April 2024 – see…
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USDCAD trend move higher continues. Pair is up near 300 pips in a week. What next?
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The US dollar has risen against the Canadian dollar over the past week, with the pair rising nearly 300 pips in one week of trading. This is a big move in a short period of time as the market is heading towards the upside. For a basic look at price…
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USDCAD makes a break above high from September, 100 day MA and broken 38.2% retracement
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The USD/CAD continues to move upward after reaching last Wednesday’s bottom near 1.3472. Since then, the price has risen for five consecutive days, reaching its highest level at 1.3660 in today’s trading. In the process today, the price was able to expand above the September high at 1.36467. This is…
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USDCAD makes a break above high from September, 100 day MA and broken 38.2% retracement
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The USD/CAD continues to move upward after reaching last Wednesday’s bottom near 1.3472. Since then, the price has risen for five consecutive days, reaching its highest level at 1.3660 in today’s trading. In the process today, the price was able to expand above the September high at 1.36467. This is…
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The USDCAD tries to keep a short term negative bias below a cluster of moving averages
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As the week comes to a close, it is important to take a look at the USDCAD currency pair with an eye to the week ahead. This week, price action became more volatile on Wednesday thanks to the FOMC decision on interest rates. The initial move was to the downside,…
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The USDCAD tries to keep a short term negative bias below a cluster of moving averages
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As the week comes to a close, it is important to take a look at the USDCAD currency pair with an eye to the week ahead. This week, price action became more volatile on Wednesday thanks to the FOMC decision on interest rates. The initial move was to the downside,…
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USDCAD a little higher on the week but gives up gains. What’s ahead for the pair?
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USD/CAD closed the week at 1.3558. The current price is slightly higher at 1.3580. The high for the week was 1.3622 on Wednesday. This move took the price above a swing high at 1.36188, but it quickly pulled back down. The high was capped before 38.2% of the move down…
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USDCAD finds buyers near the rising 100 hour MA today. Upside work is still needed.
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The USD/CAD pair is finding buyers against its rising 100-hour moving average at 1.35756 (see the rising blue line on the chart below). Staying above this moving average will give buyers more control. The 200-day moving average at 1.35889 is also in play. On the upside, there is work to…
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USDCAD Technical Analysis – A better than feared NFP boosted the USD
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Basic Overview The US dollar came under further pressure last week as a series of weak US data pushed Treasury yields lower. However, Friday’s non-farm payrolls report was not bad, on the contrary, the data under the hood was better than the previous month. This helped the US dollar erase…
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As the dust settles after the jobs reports in the US and Canada, the USDCAD is higher.
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The US and Canadian jobs report is due out today. In the US, the market breathed a sigh of relief as the numbers weren’t as weak as they were last month. The unemployment rate fell to 4.2% from 4.3%. In Canada, the unemployment rate rose to 26.6%, the highest level…
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As the dust settles after the jobs reports in the US and Canada, the USDCAD is higher.
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The US and Canadian jobs report is due out today. In the US, the market breathed a sigh of relief as the numbers weren’t as weak as they were last month. The unemployment rate fell to 4.2% from 4.3%. In Canada, the unemployment rate rose to 26.6%, the highest level…
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USDCAD extends to the next upside target
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The USD/CAD pair has moved to a new high and reached the next technical target at 1.35535 (see, concepts are missing for months). The price has not been above this moving average since August 7, almost a month ago. A break above this level would send traders looking towards its…
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USDCAD waffles above and below the 100 hour MA today. Traders await await the next shove.
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The Bank of Canada cut interest rates by 25 basis points yesterday, but despite the cut, the Canadian dollar rose against the US dollar (USDCAD lower). The USD/CAD pair fell below the 100-hour moving average at 1.35136, but was unable to maintain the downside momentum to the 200-hour moving average…
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USDCAD waffles above and below the 100 hour MA today. Traders await await the next shove.
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The Bank of Canada cut interest rates by 25 basis points yesterday, but despite the cut, the Canadian dollar rose against the US dollar (USDCAD lower). The USD/CAD pair fell below the 100-hour moving average at 1.35136, but was unable to maintain the downside momentum to the 200-hour moving average…
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USDCAD moves higher as Oil/Commodities fall and eyes key upside resistance targets
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The USDCAD currency pair is moving higher as the focus in this pair is on the decline in commodity prices including the price of oil and risk flows due to the decline in stocks in the United States. Technical factors also played a role in USD/CAD’s rise after the price…
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USDCAD Technical Analysis – The greenback gets some relief
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Basic Overview Finally, the US dollar got some respite from last week after suffering for weeks. The focus now turns to the key data this week with the ISM Manufacturing PMI due today and the Non-Farm Payrolls report due on Friday. The market is awaiting key economic data this week,…
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The selling and trending in the USDCAD continues. What next?
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Last week, the USD/CAD pair fell sharply, and although the downward momentum may have slowed down a bit over the past couple of days and hours, the downtrend is still intact. Trends are fast, directional, and tend to go further than traders expect or believe. As a result, if you…
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Chart Art: Make Or Break Support Area For USD/CAD
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USD/CAD is showing red candles below the key technical support area! Are we looking for a breakthrough? Or are the dollar bulls about to step in and say, “Not today, bears!”? USD/CAD Daily Currency Pair Chart by TradingView The US dollar fell sharply in August, helped by US data and…
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Chart Art: Make Or Break Support Area For USD/CAD
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USD/CAD is showing red candles below the key technical support area! Are we looking for a breakthrough? Or are the dollar bulls about to step in and say, “Not today, bears!”? USD/CAD Daily Currency Pair Chart by TradingView The US dollar fell sharply in August, helped by US data and…