|Day's Range||0.803 - 0.807|
|52 Week Range||0.7251 - 0.8290|
The US dollar has drifted a bit lower against the Canadian dollar, but the volume in North America would have been very thin, as it was the Martin Luther King Jr. holiday. Remember, most of the volume in North America comes out of the United States, so what would have been a Canada centric day favor the Loonie.
Sometimes you can hear people saying: ‘another day, another dollar’ when referring to their work duties and approach etc. On the market, we could be saying now: ‘another day, weaker dollar’. Real troubles started here in the middle of December and since that, the USDCAD made three bearish weekly candles, one small bullish correction and we start again with a significant drop, drawing a black body.
The pair had a volatile week as the fundamental developments and incoming data pushed and pulled the pair in different directions
The US dollar has rallied against the Canadian dollar during most of the week, but as you can see, only to fill a gap. At this point, the next move becomes a bit difficult.
The US dollar has gone sideways against the Canadian dollar during the trading session on Friday, which is interesting considering how be not the US dollar was against so many other currencies.
While inability to break 1.2415-10 horizontal-region on a daily closing basis triggered the USDCAD’s pullback, 100-day SMA level of 1.2590 seems presently restricting the pair’s up-moves. Should the pair surpasses the 1.2590 cap, it can confront the 1.2660-65 area, which if broken could help the buyers to target 50-day SMA level of 1.2720. In case if the pair fails to rally beyond 1.2590 at Day’s close, chances of its drop to 1.2500 and then to the 1.2450 become brighter but the 1.2415-10 might limit the quote’s additional downside. Given the sellers manage to drag prices beneath 1. ...
The U.S. Dollar was volatile against a basket of currencies on Wednesday as investors reacted negatively to a report that China was ready to slow or halt its purchases of U.S. Treasuries.
The US dollar drifted a little bit higher during the trading session on Tuesday, in a relatively quiet trading. The Canadian dollar has recently seen a significant surge in value, based not only upon the oil markets, but also the jobs report coming out of Canada being much better than anticipated.
The US dollar gapped lower against the Canadian dollar at the open of the week, then went sideways for most of the time, only to break down after the disappointing jobs number out of America, coinciding with a strong employment number out of Canada.
Having failed to sustain its bounce from more than three-month old ascending trend-line, the USDCAD seems declining to re-test the 1.2500 TL support, break of which could trigger the pair’s fresh south-run towards 1.2460 but the 1.2415-10 horizontal-line might confine its following downside. On the contrary, the 1.2560 and the 100-day SMA level of 1.2600 can act as immediate resistances to cap the pair’s advances, breaking which it can rise to 1.2620 and then to the 1.2665 north-side numbers. Meanwhile, a downside break of 1.5050 can have the 1.5015 as intermediate halt prior to resting on the 1.4990 horizontal-line, which if broken could further drag the pair to 1.4950 and then to the 1.4920-15 area.
The US dollar fell significantly against the Canadian dollar during the week, reaching down towards the vital 1.25 handle. Because of this, we may have a very interesting week ahead of us.
The US dollar fell again against the Canadian dollar on Friday, as we continue to see weakness in this pair. The 24-hour exponential moving average has been very reliable over the last 4 sessions, as we find ourselves pressing a very significant support levels underneath.
The US dollar has fallen against the Canadian dollar again during the trading session on Thursday, breaking below the 1.26 handle during the day, but then bouncing back towards it again.
For the year, the Greenback is down more than 9 percent against the major currencies. This is its worst performance since 2003.
The US dollar fell against the Canadian dollar during the trading session on Wednesday, reaching towards the 1.2625 handle, before bouncing slightly. The market looks likely to find selling pressure towards the 1.27 handle, and I think we are going to continue to see volatility and slightly negative pressure.
Even after clearing 100-day SMA level, the EURUSD’s up-moves are soon likely to be challenged by almost four-month old downward slanting trend-line, around 1.1910 now, which if broken could quickly direct the pair’s rise towards 1.1980 and then to the 1.2030 resistances. Given the quote successfully trades beyond 1.2030, the September month high around 1.2090, near to 1.2100 mark, become important for buyers to watch. On the downside, a daily close below 100-day SMA level of 1.1805 could drag prices to the 1.1755 ahead of highlighting the 1.1720-10 horizontal-region. ...
First one is Cable, GBPUSD, where the price is pushing higher. Actually, the upper line of the wedge is already broken so the buy signal is around the corner. Next one is an exotic instrument – CADCHF, which is also in an uptrend and is now breaking the upper line of the correction pattern.