USD/CAD Remains Supported On Dips

Key Highlights USD/CAD struggled to continue above 1.3325 and corrected lower.A connecting bullish trend line is forming with support near 1.3245 on the 4-hours chart.The US GDP grew 2.1% in Q3 2019 (Prelim), better than the 1.9% forecast.The Euro Zone Consumer Confidence is likely to remain at -7.2 in Nov 2019. USD/CAD Technical Analysis This past week, the US Dollar...
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USD/CAD Correcting Lower, Canada’s CPI Next

Key Highlights USD/CAD struggled to surpass 1.3270 and recently corrected lower.There was a break below a key bullish trend line at 1.3230 on the 4-hours chart.Canada’s Consumer Price Index is likely to increase 0.3% in Oct 2019 (MoM).EUR/USD and GBP/USD are currently showing bullish signs. USD/CAD Technical Analysis This month, the US Dollar climbed higher steadily...
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USD/CAD Following Downtrend Below 1.3150

Key Highlights USD/CAD declined heavily and settled below the key 1.3180 support area.A connecting bearish trend line is forming with resistance near 1.3130 on the 4-hours chart.Canada’s Retail Sales declined 0.1% in August 2019, whereas the forecast was +0.4%.Canada’s Wholesale Sales could rise 0.3% in Aug 2019, less than the last +1.7%. USD/CAD Technical Analysis ...
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USD/CAD Awaits Canada’s CPI and Fed Decision, Oil Price Trimming Gains

Key Highlights The US Dollar climbed higher recently above 1.3200 against the Canadian Dollar. Oil prices surged higher this week after weekend’s attack on Saudi Arabia’s massive oil facility.The US Industrial Production increased 0.6% in August 2019 (MoM), more than the +0.2% forecast.Canada’s CPI could decline 0.1% in August 2019 (MoM), whereas it increased last mon...
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USD/CAD Remains In Uptrend Above 1.3200

Key Highlights Recently, the US Dollar retested the key 1.3345 resistance against the Canadian Dollar. A major bullish trend line is forming with support near 1.3240 on the 4-hours chart of USD/CAD.Canada’s CPI increased 0.5% in July 2019 (MoM), more than the +0.2% forecast.The US Manufacturing PMI could increase from 50.4 to 50.5 in August 2019 (Preliminary). USD/CAD ...
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