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Trading signals and online forecasts USD/CAD

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Forex analytical forecast for today, January 25, for EURUSD, USDCHF, USDCAD & Crude oil
EUR/USD, currency, USD/CAD, currency, USD/CHF, currency, Brent Crude Oil, commodities, WTI Crude Oil, commodities, Forex analytical forecast for today, January 25, for EURUSD, USDCHF, USDCAD & Crude oil EURUSD: the euro is moderately advancingThe EURUSD trading instrument traded slightly higher during the morning session, reaching the resistance level of 1.0900. The pair still has a moderate positive trend from the 19th of January, but the potential for "bullish" stimulus is reduced, because market participants expect a new positive for the pair.A day earlier the statistics on business confidence in the Eurozone was released by S&P Global in January. Thus, the manufacturing sector strengthened to 48.8 points from 47.8, beating the experts' expectations of 48.5 points. The service sector increased to 50.7 points from 49.8, with the market estimate of 50.2 points. The manufacturing sector in the composite index for January increased to 50.2 points from the previous 49.3 points, with the preliminary expectation of 49.8 points. In addition the February consumer sentiment index data from Gfk Group came in, reflecting the slowdown to -33.9 points from -37.5 points with market estimates of -33.0. Overall, confirming consumer sentiment due to the energy market situation, but demand for energy resources continues to remain low on the part of private consumers.Resistance levels: 1.0925, 1.0957, 1.1000, 1.1051.Support levels: 1.0850, 1.0800, 1.0759, 1.0700.USDCHF: The US dollar has taken a wait-and-see attitudeIn the trading session of the APAC countries the currency pair USDCHF is gradually strengthening positions during the unstable uptrend since Friday.Earlier the U.S. dollar was supported by a block of A block of macroeconomic data from the U.S., reflecting business activity from S & P Global in January. Thus, the PMI (business activity index) of the services sector increased to 46.6 points from 44.7 points with a negative estimate of 44.5 points, the manufacturing sector increased to 46.8 points from 46.2 points, beating expectations of 46.1 points with a composite value of 46.6 points from 45.0 points, beating analysts' forecast of a decline to 44.7 points. Meanwhile the manufacturing activity of the Federal Reserve Bank of Richmond showed a sharp decline to -11.0 points from 1.0, disappointing analysts expectations for a negative trend of -4.0 points.Resistance levels: 0.9250, 0.9300, 0.9350 and 0.9400.Support levels: 0.9200, 0.9150, 0.9100, 0.9036.USDCAD: The instrument is waiting for the decisions of the Canadian Central BankAt the end of the previous week the currency pair USDCAD decreased to the level of 1.3360, remaining in the marked area.Market participants continue to keep low activity, wanting to wait for the release of the final minutes of the meeting of the Canadian regulator on the further adjustment of the interest rate, announced for today. According to preliminary estimates, taking into account the weakening of price pressures, namely a decrease in consumer inflation in December to 6.3%, the HEA of Canada will lower the step of strengthening the interest rate to 0.25%, bringing the target value to 4.50%, which will update the record of the last 15 years. The outcome statements from regulators are particularly interesting for market participants as the market is waiting for hints that the central bank will pause the cycle of monetary tightening to cumulatively review earlier measures. With such an outcome the Canadian dollar will inevitably find itself under the influence of negative factors.Resistance levels: 1.3455, 1.3550, 1.3671.Support levels: 1.3305, 1.3183, 1.3060.Oil market analysisThe price of WTI crude oil reflects mixed trading, testing the 80.50 mark. Earlier the asset showed a slight decline, leaving its December 5 highs, reacting to the strengthening U.S. dollar, which received stimulus amid macroeconomic data on business confidence in January.Meanwhile, the attractiveness of "black gold" is still high, because bidders predict an increase in demand from the PRC due to the relaxation of restrictive measures against Covid-19 from December, stimulating the recovery of industrial and business activity in China. However, experts predict a decrease in the level of supply of hydrocarbons in the markets already by early spring, as in the Eurozone are announced expansion of restrictions on Russian oil supplies. The analysts assume that in the nearest future the EU will revise the limit price for Russian oil products and the sanctions will also affect the refined fuel.Resistance levels: 81.00, 82.00, 82.62 and 83.50.Support levels: 79.81, 78.74, 78.00, ...
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Forex analytical forecast for today, January 24, for EURUSD, AUDUSD, USDCAD & Crude oil
AUD/USD, currency, EUR/USD, currency, USD/CAD, currency, Brent Crude Oil, commodities, WTI Crude Oil, commodities, Forex analytical forecast for today, January 24, for  EURUSD, AUDUSD, USDCAD & Crude oil EURUSD: the business climate in the Eurozone has the prospect of improvementThe trading instrument EURUSD is developing a local uptrend and is testing 1.0874, amid the announced data on January index of business activity in the key countries of the European alliance.According to experts' preliminary estimates, manufacturing activity in France may rise to 49.6 points against the previous 49.2. The service sector may gain 49.8 points against the previous 49.5. Similar indicators in Germany will improve to 47.9 points against 47.1 points in December and to 49.6 points against 49.2 points. The region's manufacturing sector could rise to 48.5 points from the previous 47.8 points, and the services sector has a chance to cross the 50.0 point threshold, reaching 50.2 points, renewing September's 2022 reading.Resistance levels: 1.0931, 1.1160.Support levels: 1.0785, 1.0519.AUDUSD: the pair is strengthening within the upward trendThe trading instrument AUDUSD traded with mixed trend during morning session, being around 0.7020 and the local high of January 18. Earlier the currency pair was actively strengthening the quotes, which allowed the "Aussie" to recover the lost positions of the previous week to the maximum. In the meantime the macroeconomic data block was published before the session beginning on Tuesday.Thus, the PMI (business activity index) of the service sector from the Commonwealth Bank for January rose to 48.3 points from the previous 47.3 points, against investors' estimates of 49.7 points. The manufacturing sector decreased to 49.8 points from 50.2 points while the market expected the growth to 50.3 points. Business activity in the composite index strengthened to 48.2 points from the previous 47.5 points. Business conditions from the NBA (National Australia Bank) for December declined in the index to 12.0 points from 20.0 points with expectations of a decline to 19.0 points, and business confidence strengthened to -1.0 points from -4.0 points with estimates of a rise to 3.0 points.Resistance levels: 0.7050, 0.7100, 0.7150, 0.7202.Support levels: 0.7000, 0.6950, 0.6900, 0.6850.USDCAD: negative factors are affecting the American currencyAfter renewal of the local maximum by USD during the previous Thursday, January 6, the instrument USDCAD continues to develop the dynamics of "bears", being in the area of 1.3350 in expectation of the next stimulus.According to the preliminary announcements, the release of the service sector statistics is scheduled for today, and on Thursday will be the first estimate of the dynamics of the American GDP (gross domestic product) for Q4, which may show the slowdown to 2.8% from 3.2% due to the sharp correction of the monetary parameters by the US Federal Reserve. The same day, investors will pay attention to the outcome of the meeting of the Canadian Central Bank officials on the issue of monetary policy. Preliminary estimates foresee an increase of the interest rate by only 0.25%, which will strengthen the target level to 4.5%. Analysts expect the accompanying statements to provide further guidance on the interest rate as the rate approaches the regulator's target.Resistance levels: 1.3400, 1.3450, 1.3500, 1.3550.Support levels: 1.3341, 1.3300, 1.3226, 1.3150.Oil market analysisThe price of "black gold" of the Brent grade has been actively growing since the beginning of this month, testing the level of 89.00.The positive dynamics is still supported by several key stimuli: the growth of Chinese GDP and decrease of the key correction step by the Fed. Thus, the lifting of quarantine restrictions by the Chinese authorities has already had a positive effect, increasing the intensity of domestic traffic in the provinces for the Eastern Calendar New Year holiday. According to the latest data, the number of cars on the roads has increased by 22.0% this month, which increases the potential demand for fuel and the strengthening of the cost. OPEC estimates that China's economic performance in 2023 will boost global black gold demand by up to 2.2 million barrels per day, while the IEA (International Energy Agency) reports 1.9 million barrels per day.Resistance levels: 90.62, 93.75.Support levels: 83.70, 81.25, ...
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Forex analytical forecast for today, January 19, for EURUSD, USDJPY, USDCHF & USDCAD
EUR/USD, currency, USD/CAD, currency, USD/CHF, currency, USD/JPY, currency, Forex analytical forecast for today, January 19, for EURUSD, USDJPY, USDCHF & USDCAD EURUSD: dollar has no prospects for further strengtheningAs inflation in the EU region continues to decline the currency pair EURUSD keeps neutral trading at 1.0800.Consumer inflation in the European Union fell 0.4%, beating expectations of -0.3% and weakening the annual rate to 9.2% from 10.1% in the past, according to yesterday's publication. Economists have seen a positive trend for three months in a row, noting the effectiveness of approved decisions by the ECB (European Central Bank). Core inflation, which excludes fuel and food commodities, rose 0.6% MoM and from 5.0% YoY to 5.2% YoY, sending warning signs that economic activity is slowing.Resistance levels: 1.0870 and 1.1070.Support levels: 1.0710, 1.0510.USDJPY: Japanese currency is recoveringThe trading instrument USDJPY reflects a slight decline, developing a correction after the rapid strengthening earlier, where the "American" was able to rise to the mark of January 12, but soon the "bulls" lost the advantage.The Japanese yen came under pressure on the decision of Japanese monetary authorities to continue the current monetary policy. Including the income curve also kept its previous monitoring level, which may indicate an impending tightening of monetary parameters, including a correction of the key indicator from the current level of -0.10%. The regulator maintained the local 10-year government bond yield window during its most recent meeting, currently displaying a range of -50.0 points to 50.0 points to the 0.0% target. The chairman of the central bank of Japan said that the issue of the index correction is overestimated and the result of approved measures should be evaluated the day before. Meanwhile, the agency expects consumer inflation to strengthen to 3.0% by March, while experts expect the next year to show a decline to 1.6%, with a target of 2.0%. An additional negative factor for the yen was the publication of data on the demand for components for the mechanical engineering sector. Thus, in November such orders decreased by 3.7% on the annualized basis, having earlier strengthened by 0.4% against the experts' estimations of the positive trend development to 2.4%, and by 8.3% on the monthly basis on the previous day having strengthened by 5.4% for October. December data showed improvement in exports from Japan to 11.5% from 20.0% while imports slowed to 20.6% from 30.3% narrowing the trade deficit to -1448.5 billion yen from -2029.0 billion yen.Resistance levels: 129.00, 130.00, 131.00, 132.00.Support levels: 128.00, 127.00, 126.34, 125.60.USDCHF: the pair is testing a record lowDuring the Asia-Pacific trading session, the currency pair USDCHF displays a mixed trend, being around 0.9160.Earlier the instrument was actively declining, reaching a low of November 2021, however by the end of the day trading the American currency successfully regained its losses, despite the negative data from the United States. Industrial production continued its negative trend and disappointed investors as it lost 0.7% in December, having earlier contracted 0.6% while the market was expecting a trend reversal to -0.1%. Retail sales were down 1.1% building on a previous 1.0% decline in November, with experts estimating a -0.8% decline.Traders will look forward to release December Swiss industrial inflation data due tomorrow, as well as data from the U.S. housing market and manufacturing activity at the Federal Reserve Bank of Philadelphia in January.Resistance levels: 0.9200, 0.9250, 0.9300 and 0.9350.Support levels: 0.9150, 0.9100, 0.9036, 0.9000.USDCAD: dollar has reached the level of 1.3500.The trading instrument USDCAD is trading with multidirectional dynamics in morning trading, having reached the threshold of strong resistance at 1.3500. The American currency is strengthening, recovering losses incurred since the beginning of the week against a very mixed macroeconomic backdrop.According to the data, the U.S. retail sales for December sagged 1.1%, previously showing -1.0% for November, while analysts were expecting a positive trend to -0.8%. Industrial production slipped slightly to -0.7% from -0.6%, with a forecast of -0.1%. Manufacturing capacity lost percentage points in December to 78.8% from 79.4%, missing analysts' expectations of a strengthening to 79.6%. The published block of macroeconomic statistics had strengthened the opinion among the market participants that the US Federal Reserve System will decide to refuse from continuing hawkish rhetoric, completing the current cycle of interest rate adjustment.Resistance levels: 1.3500, 1.3550, 1.3600 and 1.3650.Support levels: 1.3450, 1.3400, 1.3356, ...
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Forex signals for USDCAD, EURUSD and GBPUSD on 18/01/2023
EUR/USD, currency, GBP/USD, currency, USD/CAD, currency, Forex signals for USDCAD, EURUSD and GBPUSD on 18/01/2023 USDCAD signalsUSDCAD is trading in a downtrend on the 4-hour chart. It shows that the USD/CAD rate is trading below the moving average with a period of 55 on the hourly chart (the level of 1.3462), which generally contributes to the decline in the price in the short term. I recommend to sell on this pair on the basis of the existing wave pattern.The signal for long position opening will be a break-down and fixing above the resistance at 1.3500 with the aim to go up to the resistance level of 1.3552 and in case of its break-down at the end of the hour to 1.3606.  Stop loss in this strategy may be placed at the level of 1.3440.The signal for the opening of a short position is a break-down and fixation at the level of 1.3349 with the aim of going down to the support at 1.3295, in case of its breakdown an hour later, to 1.3243. Stop-loss in this strategy can be placed at the level of 1.3475.EURUSD signalsEURUSD is trading within the ascending price channel on the hourly chart. I recommend opening long positions in case the pair breaks through and rises above the resistance at 1.0810, aiming to the resistance at 1.0837-1.0869. Stop loss below 1.0760.I recommend to open short positions after breakdown and fixation below the support at the level of 1.0764 with the aim to go down to the support at the level of 1.0737-1.0710. Stop-loss is above 1.0820.GBPUSD signalsOn the basis of technical modeling on pair pound/dollar the forecast of the further movement was formed and the average urgency is predisposed to rise.In the given technical situation pound can be bought from the level of 1.2243 and also it is possible to expose the pending buy order at the level of 1.2170 with the purpose of increase in the area of resistance at the level of 1.2353-1.2446, the stop at this strategy can be placed at the level of ...
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Forex signals for USDCAD, EURUSD and GBPUSD on 16/01/2023
EUR/USD, currency, GBP/USD, currency, USD/CAD, currency, Forex signals for USDCAD, EURUSD and GBPUSD on 16/01/2023 USDCAD signalsUSDCAD is trading in a downtrend on the 4-hour chart. It shows that the USD/CAD rate is trading below the moving average with a period of 55 on the hourly chart (the level of 1.3479), which generally contributes to the decline in the price in the short term. I recommend to sell on this pair on the basis of the existing wave pattern.The signal for long position opening will be a breakdown and fixation at the level of 1.3500 with the aim to go up to the resistance at 1.3552 and in case of its breakdown and fixation at the level of 1.3606.  Stop loss in this strategy may be placed at the level of 1.3440.The signal for the opening of a short position will be a breakdown and fixation at the level of 1.3349 with the aim of reducing to the support at the level of 1.3295 in case of its breakdown and fixation at 1.3243. Stop-loss may be set at the level of 1.3475.EURUSD signalsThe EURUSD pair is trading within the ascending price channel on the hourly chart. I recommend opening long positions in case of breakdown of the resistance at 1.0870 with the aim of going up to the resistance at 1.0900-1.0931. Stop-loss below 1.0800.I recommend to open short positions after breakdown of support at 1.0807 with the aim to go down to support at 1.0781-1.0751. Stop loss is above 1.0885.GBPUSD signalsOn the basis of technical modeling on pair pound/dollar the forecast of the further movement was formed and the average urgent predisposition to increase.In the given technical situation pound can be bought from the level of 1.2226 and also it is possible to expose the pending buy order at the level of 1.2122 with the purpose of increase in the area of resistance at the level of 1.2374-1.2494, the stop at this strategy can be placed at the level of ...
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Forex analytical forecast for today, January 16, for EURUSD, USDJPY, USDCHF & USDCAD
EUR/USD, currency, USD/CAD, currency, USD/CHF, currency, USD/JPY, currency, Forex analytical forecast for today, January 16, for EURUSD, USDJPY, USDCHF & USDCAD EURUSD: The U.S. may face an economic recessionA significant decline in consumer inflation in the Eurozone allows the EURUSD to correct at 1.0856.Thus, last Friday the statistics on consumer sentiment showed a decline from 6.2% to 5.9% in France and from 6.8% to 5.7% in Spain, confirming the effectiveness of the measures taken the previous day by the ECB (European Central Bank). In addition, the industrial sector index for the region gained 1.0% in November after having fallen by 1.9% earlier, thus adjusting the annual figure to 2.0%, against analysts' expectations of 0.5%. Capital goods, production of production machines, led the way, providing the potential for a rebound in economic activity and growing interest from investors.Resistance levels: 1.0920 and 1.1160.Support levels: 1.0780, 1.0586.USDJPY: Japan 10-year bonds have reached another peakThe USDJPY trade reflects mixed trading, testing 127.65 as part of a corrective momentum development, retreating from the previous week's position where the U.S. currency hit its May 2022 low.Meanwhile, Japan's regulator is making preparations to shift to a hawkish rate. Economists currently agree that radical changes to monetary parameters will begin in the spring of 2023. In turn, 10-year securities outperformed gains of 0.54% at the end of Friday's session. Market participants increased the volume of bond sales on fears that the Central Bank of Japan may decide to revise its policy of monitoring the YCC (yield curve), after which it will tighten monetary policy to combat inflationary risks to the economy. Financial authorities have already announced an emergency purchase of government securities, which will take place in two rounds, and the amount of the transaction will be 1.8 trillion yen to stabilize the situation. At the time of writing, bonds are testing the usual 0.50% mark. However, back at the December meeting, the agency allowed the 10-year government bond yield to fluctuate between -0.50% and +0.50%, with initial fluctuations in the range of -0.25% and +0.25%.Resistance levels: 128.00, 129.00, 130.00, 131.00.Support levels: 127.00, 126.34, 125.60, 125.00.USDCHF: The "American" is traded under pressureThe American currency displays a moderate drawdown in the pair with the Swiss franc, as part of the development of the "bearish" momentum gained by the end of the previous week, when the pair USDCHF was quoted at the local maximum of January 6.Investors are betting on the next interest rate hike by the U.S. Federal Reserve, which will not exceed 0.25% correction, and then the agency will take a wait-and-see attitude to assess the measures taken. Meanwhile, the key interest rate is already close to the 5.0% target, which is more of a formality. At the end of the previous week, traders were able to get another hint confirming the high probability of such scenario against the background of the U.S. consumer sentiment data for December, according to which the annual rate of consumer inflation slowed to 6.5% from 7.1%.Resistance levels: 0.9250, 0.9300, 0.9350 and 0.9400.Support levels: 0.9200, 0.9150, 0.9100, 0.9050.USDCAD: consolidation at the local minimumAfter earlier unsure attempt to consolidate by the end of the previous week, USDCAD returned to correctional decline, testing the level of 1.3381.At the same time, rising prices continue to act as a negative stimulus for Canadian households. As it follows from the Second Harvest report, this year the food banks will increase their demand among the residents of Canada to +63.0%, with the demand in 2022 at the level of 134.0%. According to the analysts, the negative trend is being driven by cuts in the population's subsidy package announced with the onset of the global covid-19 pandemic and rising consumer prices, which have reached a peak of 10.3% in the last few decades. According to a report on the food group from Dalhousie University, 2023 will show an increase of up to 7.0% in food spending and families of up to five people will increase food spending above the C$16,000 mark.Resistance levels: 1.3400, 1.3450, 1.3500, 1.3550.Support levels: 1.3356, 1.3300, 1.3226, ...
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Forex analysis and forecast for USD/CAD for today, January 11, 2023
USD/CAD, currency, Forex analysis and forecast for USD/CAD for today, January 11, 2023 On Wednesday, USD/CAD is trading just above support at 1.3400. On the previous day the buyers of USD were able to win back some of their losses, and the pair retreated from the local lows of November 25.Meanwhile, volatility of currency pairs at Forex market remains low because market participants don't rush to open new positions, especially in USD pairs before the release of the US inflation report, which is scheduled for tomorrow (13:00 GMT).Following last Friday's U.S. labor market report, investors are expecting the Fed to move to ease monetary policy. The futures market is predicting a 25 basis point rate hike in February with a probability of about 80%. The U.S. ten-year bond yields are declining under such background, which negatively affects the U.S. dollar exchange rate.The Canadian dollar got a little support on the release of the national macroeconomic statistics. The number of building permits has grown by 14.1% in November. The Canadian real estate market has seen a decline in prices. In 2022, the value of detached homes fell 11.3%. Townhouses are down 6.4%.USD/CAD Technical AnalysisBollinger Bands and MACD give strong downside signals. The Stochastic oscillator entered the oversold area, but then it turned around and it is now testing the 20% level.After the price fixation below support at 1.3400, we continue selling the pair with the target at 1.3300. Stop-loss is set at 1.3450.In case of break above 1.3450, we will start buying with Take Profit at 1.3550. Stop-loss is set at ...
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Forex analytical forecast for today, January 11, for EURUSD, USDCHF, USDCAD and Crude oil
EUR/USD, currency, USD/CAD, currency, USD/CHF, currency, WTI Crude Oil, commodities, Forex analytical forecast for today, January 11, for EURUSD, USDCHF, USDCAD and Crude oil EURUSD: EU GDP has gloomy prospectsThe EURUSD trading instrument slowed down, testing 1.0747, as the euro zone economy is predicted to grow negatively.According to the forecast published earlier by the international rating agency Moody's Investor Service, the GDP (gross domestic product) will grow by 0.6% next year with the preliminary forecast of 4.5% as the pressure is getting higher due to the energy crisis and inflation. The most vulnerable might be Slovakia, whose economy will shrink by 1.4%, Poland and Hungary by 0.2%, while the Czech Republic might show -0.3% and Croatia by 1.3%. The biggest pressure on the value will be from Germany, whose correction will be -1.8%. As a result, contrary to the forecasts of slowing inflation, the outlook for a speedy recovery in the region is very mixed.Resistance levels: 1.0800 and 1.1000.Support levels: 1.0620, 1.0400.USDCHF: The pair is waiting for the macroeconomic data from the USA"The American reflects a mixed trend against the Swiss franc in morning trading, being in the area of 0.9220. The pair stabilized after having finished its plummet at the end of the previous week and continued on Monday, but investors were waiting to see the December U.S. inflation data due on January 12.According to preliminary estimates, the data will be able to guide the Fed officials to determine the pace of key indicator correction in February, but we can already predict that the rate increase will not exceed 0.25%. Economists expect a downward trend in consumer inflation to 6.5% from 7.1% or to 5.7% from 6.0% if the food and energy group is excluded.Resistance levels: 0.9250, 0.9300, 0.9350, 0.9400.Support levels: 0.9200, 0.9150, 0.9100, 0.9036.USDCAD: upward correction in the pairThe trading instrument USDCAD is moving within the multidirectional trend during the Asian session, testing the level of 1.3430. Earlier the American currency successfully moved to a moderate strengthening, having moved away from the local minimum of November 25, updated on Monday."The Canadian" gained a little support amid the publication of macroeconomic statistics at the beginning of the week. According to the data, the number of approved applications for construction work in November rapidly strengthened by 14.1%, having previously decreased by 5.3% last month, contrary to experts' forecasts of an increase to 3.7%. In turn, the value of the price indicators of Canadian real estate develop a "bearish" dynamics. Thus, at the end of 2022 the price of individual houses fell by 11.3%, duplexes - by 13.9% and townhouses - by 6.4%, with a reduction of 49.4%, and experts allow the development of the downtrend. As stated by analysts at Meridian, Canada's largest credit union, the end of the Bank of Canada's systemic interest rate hike will provide an opportunity to stimulate demand levels due to lower residential real estate loan prices, and the national housing market could recover rapidly by the third quarter of 2024.Resistance levels: 1.3450, 1.3500, 1.3550, 1.3600.Support levels: 1.3400, 1.3356, 1.3300, 1.3250.Oil market analysisIn the Asian trading session, WTI crude oil is showing moderate decline, testing the area of 74.85.Market participants keep low, refraining from opening new positions while waiting for the key U.S. consumer price statistics in December. It is estimated that the negative dynamics of the index will slow down to 6.5% from 7.1%, allowing the US Federal Reserve to raise the interest rate by only 0.25%, after which there is a high probability of a break in the cycle of tightening of monetary parameters.Negative for oil were comments from U.S. Department of Energy officials who raised production capacity expectations for 2023 by 70.0 thousand barrels, raising the target to 12.41 million barrels, amid an expected decline in demand to 100.48 million barrels, despite signs of growing economic activity in China.Resistance levels: 75.00, 76.00, 77.00, 78.00.Support levels: 74.00, 72.59, 71.00, ...
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Dollar falls, losing support from US government bonds
USD/CAD, currency, USD/JPY, currency, NZD/USD, currency, US Dollar Index, index, Dollar falls, losing support from US government bonds The dollar fell against the Canadian dollar and hovered near multi-month lows against European currencies on Tuesday as Treasury bond yields were little moved amid expectations the US Federal Reserve will not raise interest rates in the near future.Dallas Fed President Robert Kaplan reiterated on Monday that he does not expect interest rates to rise until next year, lowering expectations that inflationary pressures could force the Fed to change policy sooner than stated.Read more: Causes of inflation and scientific approaches to their studyThe yield on 10-year US Treasury bonds stood at 1.6454%, continuing a decline from last week's five-week high.The dollar index to a basket of six major currencies was down 0.19% to 89.991 by 09:34. The euro rose 0.25% to $1.2181, close to its lowest level since February 26. At the same time, the pound rose 0.31% to $1.4178. The British currency was supported by the lifting of coronavirus restrictions in the UK.The Canadian dollar rose 0.31% against the US dollar to $1.2029, almost hitting a six-year high, thanks to higher oil prices. "The Aussie rose 0.46% to $0.7799. The New Zealand dollar rose 0.58% to $0.7242.The mainland yuan rose 0.2% to 6.4257. The Japanese yen rose 0.1 per cent paired with the dollar, to 109.08 yen.In the cryptocurrency market, bitcoin rose 3.81% to $45.255 but remained near a three-month low following tweet from Tesla CEO Elon Musk. Etherium rose 7.58% to $3,529.95, recovering from a two-week low hit on Monday.Read more: The history of Federal Reserve (Fed) and its ...
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USD/CAD: forex online signals, forecasts for today, analysis & features
USD/CAD, currency, USD/CAD: forex online signals, forecasts for today, analysis & features The USD/CAD currency pair is a fully American quote, one of the ten most popular currency pairs on the Forex market.Lower volatility does not make this pair worse, but only on the contrary – more stable and interesting for trading.USD/CAD is often called the American equivalent of the European currency pair EUR/GBP.USD/CAD forecast for todayThe USD/CAD forecast is based on 20 indicators, four timeframes and signal strength levels. We recommend paying attention only to the strongest signal – Actively buy or Actively sell. Also, the best moment will be when this signal is repeated on all four timeframes.Visually, the USD/CAD chart does not have any distinctive features and is similar to most currencies of developed countries. Candles are formed smoothly, correctly forming shapes that are easy to read. There are no illiquidity artifacts and sharp jumps on the USD CAD chart. The price holds one direction for a long time before starting a correction or changing the trend. It is thanks to its convenience that USD/CAD is still popular along with the classic USD/EUR and GBP/USD.Read more: EUR/CAD: signals, forecasts, exchange rate chart (online) and quotesGeneral characteristicsUSD CAD chart The USD/CAD currency pair is a straight and four-digit quote and has four decimal places. Some brokers add a fifth sign, mostly only large brokers can do this for the convenience of their clients.The US dollar acts as the base currency, and the Canadian dollar is the quoted one.USD is the most popular and important currency on the planet. There are hundreds of factors of influence on the USD, which are very difficult to follow, so it is better to focus only on key macroeconomic indicators.CAD is considered a commodity currency, as it is strongly influenced by the prices of oil, coal, oil, non–ferrous and ferrous metals. It is better to analyze the quotation for the Canadian dollar.What does the USD CAD rate depend on?The financial policy of the United States and the dynamics of the US dollar have a serious impact on the changes in the exchange rate of the Canadian currency. Since Canada itself, in fact, borders the United States and is largely connected with the American economy, the national currency of this northern state is extremely susceptible to events taking place in the States. In particular, import and export figures to the United States have an impact. Global integration has not bypassed Canada either. This factor affects close cooperation with many countries of the region that are members of APEC (ARES). Periodic jumps in Canadian dollar quotes directly reflect the state of the Canadian financial system throughout the twentieth and early twenty-first centuries.The interest rate of the Canadian Bank is one of the key factors influencing the USD/CAD exchange rate.It should be understood that it is not the current rate that is important, but the possibility of changing it. The bottom line is that all the money in the market flows into more profitable assets, so an increase in the rate will lead to an increase in the Canadian dollar and vice versa. The rate will affect not only the USD/CAD currency pair, but also everything where CAD is involved.Indicators such as GDP, unemployment, inflation – will have an impact, but small, that is, they will have a strong impact only when the interest rate changes. If the rate is stable, then even a change in GDP indicators may not have a strong impact, since leading indicators such as retail sales come out before that, and new GDP data will only prove to be confirming.Read more: CAD/CHF: description, characteristics, trading forecasts and feautures of the pairCanada is in second place in the world in terms of oil reserves, so oil prices are of great importance for this quote. It is also worth clarifying that the main importer of Canadian oil is the United States, which is already closely linked to the Canadian economy. After the last crisis, the United States itself began to extract and export oil, so the share of Canadian oil exports to the United States has decreased and now CAD's dependence on oil exports has also fallen slightly, but nevertheless the Canadian dollar continues to correlate well with oil with a shift of 3-4 months.China is also a big consumer of Canadian raw materials, so it is possible to trace the responses to the USD/CAD quote after the release of important news in China.At the moment, Canada does not bind its currency at the legislative level, providing a regulatory function to the market. The main correction tool is a change in the key rate in the country. Thus, a trader can play on the difference in rates between the US Federal Reserve and the Bank of Canada.USD/CAD is often chosen by traders who trade on the news, as this currency pair reacts sharply to them, and news can be not only on the economies of countries, but also on oil and coal data.How best to trade on USDCADUSD CAD currency pair FOREX trading is conducted in standard lots, with a volume of $100,000, one item will cost $ 10. Brokers traditionally offer work with fractional lots and leverage, so even $100 is enough for an initial deposit. FOREX remains the preferred place to work with this tool.If you think that the US dollar has a more positive dynamics and a positive impact – the quote should be bought (for CAD).If you think that the Canadian dollar is receiving strong support (news, economy ...) – the quote should be sold (get rid of the cheaper dollar).Active trading takes place during the American session, but even after it closes, during the European trading session, moderate activity continues, which indicates the popularity of this quote. Sometimes the main trend may change at this time.Read more: CAD/CHF: description, characteristics, trading forecasts and feautures of the pairAt 15 minutes, it can be seen that the chart is replete with false breakouts and deep rebounds from pierced levels. However, this trend is smoothed out on the daily chart, and smooth trends can be observed. Accordingly, the work on breaking through will bring the greatest fruits in trading. If we return to short-term trading, then it is more convenient to use indicators such as RSI or CCI with hard stops, which will save the trader from going beyond the price range. Adherents of the Elliott theory will be able to find the point of application of the wave theory on the USD/CAD chart, thanks to their progressive and protracted movement.In general, USD/CAD trading can be divided into:Trading on trendTrading by support and resistance levelsTrading by newsThese are the main ways of working on this quote due to a more stable schedule and direct dependence on many macroeconomic indicators.The greatest volatility is observed from 7 to 10 in the morning.Features of the USD/CAD currency pairIn the jargon of traders, the USD/CAD rate is called "loonie". This name comes from a coin of one Canadian dollar, on the reverse of which is stamped a polar loon, which in English is called "Common Loon". An alternative name sounds like "foundations".Read more: AUD/CAD: exchange rate, online forecast, currency pair overviewThe Canadian dollar is a fairly popular currency, but despite this, it is not among the world's five reserve currencies, which makes it an exclusively regional monetary sign. The raw materials economy of Canada leaves an imprint on the dynamics of USD CAD, forcing it to react to news in the oil and woodworking industries especially acutely. In general, the currency retains its independence and refers to reliable investments, despite its partial dependence on the price of ...
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"20 points a day": a simple, but effective strategy for Forex trading
USD/CAD, currency, \ Today we will talk about a fairly simple approach to Forex trading that even novice traders can use. We are talking about a strategy with the telling name "20 points a day”, according to which you can earn exactly 20 points every day. It sounds interesting, because this is 400 points of net profit per month.  In fact, the vehicle can really be used in practice, but you should not expect to receive a daily profit. As in any other strategy, there will also be unprofitable orders, and one of the distinctive features of the method is the equal values of Stop Loss and Take Profit orders. In other words, when trading on the vehicle "20 points a day”, you can either earn or lose the same 20 points. The good news is that if the rules of the vehicle are followed, the number of successful orders is about 75%.Trading rulesThe characteristic features of the strategy include:Successful trading in the long term is possible only on the USD/CAD currency pair;The chart period is only M30;Use only standard (not custom) versions of indicators;Deals are opened on weekdays daily;You will need to open orders at exactly 11-00 GMT;The average transaction time rarely exceeds 3 hours;The values of the Stop Loss and Take Profit insurance orders must be equal and fixed;The maximum risk for each transaction should not exceed 2% of the deposit.  To trade, you will need to open the price chart of the USD/CAD pair with the M30 period and put 2 indicators on it:A simple moving average with a period of 20 applied to the closing points (Close in the settings);Momentum oscillator with a period of 5 and an additional level of 100.As mentioned earlier, the transaction will need to be opened at exactly 11-00 GMT. At this time, the largest trading platforms in the EU are experiencing a peak in trading volumes, which favorably affects the formation of good, local trend movements.  Signals for opening a Sell order:The Momentum oscillator curve is plotted below the 100 level set in the oscillator window;The price chart is formed below the moving average with a period of 20.To open a Buy order, the signals will be opposite:The oscillator line is built above the level of 100;The chart of the pair is built above the moving one with a period of 20.Important! The time of the trading terminal may differ from the time zone of the trader and depends on the location of the company's trading servers. It is very important to pay attention to this and not make mistakes with the opening time of orders. Otherwise, such inaccuracies may result in the loss of most of the deposit.Conclusion The “20 points a day" strategy is quite simple and effective. It has been tested by time and many successful traders. If a few years ago this vehicle was effective on almost any liquid currency pairs, now it is advisable to use it only on USD/CAD. On GBP/USD, AUD/USD and EUR/USD, the number of successfully closed orders is 50% or less. This trend is associated with a gradual increase in market volatility and it is quite possible that over the next 2 years it will be necessary to look for more effective filters for successful trading on this vehicle. But at the time of writing, the strategy remains working and nothing prevents novice traders from starting to apply it in practice right now.Read more: Volatility: types, how to track and how to ...
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