Forex News USD/CAD

[mlawson71]

The move south continues, I think we will see it break out below 1.3200 next week.

 

[mlawson71]

The pair is consolidating sideways but I think we will see it move south soon.

 

[mlawson71]

It formed a double top 1.3350 on the daily time-frame and started falling, I think we will see it drop towards 1.3200.

 

[mlawson71]

It continues consolidating around 1.3280 but the move south will likely continue.

 

[mlawson71]

USD/CAD is still testing 1.3280, we may finally see a breakout below that support level.

 

[mlawson71]

It's testing the support at 1.3280 and I think it will continue falling this week.

 

[mlawson71]

The pair is still consolidating sideways, let's see when it will finally end.

 

[mlawson71]

No ending of the consolidation is in sight, unfortunately. For now I'd refrain from trading this pair.

 

[mlawson71]

USD/CAD is slowly inching north and it broke out above the last high, the move north should continue.

 

[mlawson71]

It found some support at 1.3190 but the move to the downside may still continue.

 

[yanerfei]

this pair is on downtrend going down slowly

 

[mlawson71]

The move south continues and I think USD/CAD will depreciate back to 1.3100.

 

[mlawson71]

The market is opening again today, let's see whether the move south will continue.

 

[narender sharma]

Downtrend wave started at 1.33822 on D1 chart shows continuation of downtrend. Sell stop orders at 1.31298 with TP1 1.30993 and TP 2 at 1.30846. However H4 chart still shows some rare chances of bounce back.

 

[narender sharma]

buy orders can be opened if the pair crossses 1.31694 with target of 1.3220 levels

 

[mlawson71]

The pair continues depreciating, indeed. I think it will soon reach 1.3100.

 

[mlawson71]

The move north continues for now and it will likely reach 1.3230.

 

[UsaForexsignal]

USD/CAD dollar Lower on ECB

The Canadian dollar is lower on Thursday. The loonie is trading at 1.3217 once the EU central bank (ECB) cut its benchmark rate and declared a relaunch of its QE program. The central bank will buy 20 billion euros a month of bonds in an attempt to spice up the eurozone economy. The Canadian dollar had a volatile day of forex trading at it had been caught between trade optimism and lower rates, that boosted stock markets and within the different hand doubts regarding an interim US-China trade deal and a falling worth of oil.

The Bank of Canada (BoC) control rates unchanged in Sept, however the speed differential and a powerful jobs market did very little for the loonie on a weekday. Risk aversion and appetite came in and out of the market with the final balance for the CAD was depreciation.

The US dollar was higher against the JPY, CAD, and NZD out of the majors, however during a fast reversal of earlier forex trading was down against European pairs. The move was not seen as a win for the ECB, even though Mario Draghi went all-in on the financial policy toolkit on the market as he's winding down his presidency. Christine Lagarde can take over in Nov with the herculean task to win over the market that no matter is left within the policy bag of tricks will boost growth.

Next week are all regarding the Fed, with a twenty-five basis points at close to 100% chance because it has been priced in by the market, however with large question marks on what proportion will the central bank bend to the need of the US president and also the market as US indicators show a additional sturdy image.

 

[mlawson71]

USD/CAD remains bullish, I think we will see it rally to 1.3300 soon.

 

[vindiou]

I bet on 1.32 in the incoming weeks