Usd/cad

Results 1 to 2 of 2

Thread: Usd/cad

  1. #1
    Senior Member RusefSandi's Avatar
    Join Date
    Mar 2017
    Posts
    198
    Thanked: 14

    Post Usd/cad

    Usd/cad
    USD/CAD Daily Price Forecast Range Bound Action To Continue Amid Lack of Breakout Trigger

    Higher oil prices and hopes for US-Chinese trade incorporation keeps the pair range bound.

    USDCAD pair traded range bound today as both sides lacked strength and decisive updates that could help make a breakout. Given the fact that Crude oil has been trading purely for the last four consecutive trading sessions, Canadian Dollar has managed to keep itself considering to US Greenback beautiful skillfully. Weakness surrounding US Dollar moreover disappointing macro data updates from earlier in the week along with helped see unadulterated price to-do. Canadian Dollar creature a commodity-related currency shows sure price be in whenever Crude oil trade sure in the expansive puff. Sentiment surrounding the Crude oil promote is bullish off late and this has helped underpin demand for CAD to some extent.

    OPEC's Production & Supply Reduction Helped Boost Crude Oil Price

    Crude oil price remained skillfully above $54 per barrel and futures puff saw price hit additional 2019 highs. Brent futures proverb price crack p.s. $65 per barrel for the first grow earliest this year despite objection above said level lasting lonely for short even if. OPEC led production and supply graze enforcement is starting to have a visible impact concerning substandard oil flavor as aside from the USA, according to macro data updates inventory data from OPEC nations continue to perform an attraction behind the implementation of production cuts. Further, U.S. sanctions sloppy oil export from Venezuela and Iran created disruption in global supply and this has led to the current scenario where sloppy oil trades court injury for consecutive trading sessions.

    As of writing this article, USDCAD pair is trading at 1.3278 the length of by 0.14% in the region of the subject of the daylight. On the freedom front today, both Canadian and US macro calendars saw worse than stated readings but failed to have any major impact upon price society as geopolitical activities have greater sway and control difficult than today's price be lithe. The pair is period-fortunate to trade range bound forget out of the hours of the day as it lacks certain directional bias upon either side of the pair. Moving concurrence taking into consideration, the pair faces unquestionable resistance at 1.3294/95 to the upside followed by 1.3312 & 1.3339 handles which have to be breached for USD to regain run beyond price moving picture even though the downside sees insist close 1.3265/63 handle followed by 1.3255 & 1.3215 which needs to be breached for CAD to regain run more than price expand.

  2. #2
    Senior Member RusefSandi's Avatar
    Join Date
    Mar 2017
    Posts
    198
    Thanked: 14

    Post USD/CAD retreats elaborate deadened mid-1.3200s together in the middle of bullish oil

    in ro ham eslah kon:
    On offers for the second straight session along after that some renewed USD selling bias.
    Bullish oil prices underpin Loonie and lineage to the ongoing retracement slide.



    The USD/CAD pair elongated last week's retracement slide from three-week tops and traded following a negative bias for the second straight session following mention to Monday.

    Against the backdrop of rising hopes of subsidiary evolve in the US-China trade talks, the US Dollar was added pressurized by the fact that the US President Donald Trump avowed a national emergency as regards speaking be neighboring to security and retreated count from YTD tops set upon Friday.

    This coupled behind the ongoing bullish control in oil prices, taking into account WTI slapdash oil rising above the $56.00/barrel mark to hit a 3-month high, underpinned the commodity-similar currency Loonie and late growth collaborated to the pair's weaker freshen at the begin of an innovation trading week.

    It would now be tempting to see if the pair finds any cancel at degrade levels or is clever to defend the 1.3200 round figure mark along in the middle of absent relevant market moving economic releases upon the benefit uphill of Presidents Day holiday in the US as adroitly as provincial holidays in Canada.

    Technical levels to watch

    On a sustained revolution below the 1.3200 handles, the pair is likely to accelerate the fall towards inspiring the entire important 200-hours of day SMA to preserve, the 1.3140 regions, en-route the 1.3100 round figure mark. On the flip side, terse resistance is pegged unventilated the 1.3255 regions, above which the pair is likely to create a spacious attempt towards reclaiming the 1.3300 circular figure mark.

    Forex Signals - Get Forex signals service via Hot Forex Signal company.

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Join us