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Canadian Dollar Technical Forecast: USD/CAD Rips on Trump Tariffs

USD/CAD surged to fresh yearly highs as Trump threatens a 25% tariff on Canada- bulls vulnerable into major resistance. Battle lines drawn on the weekly technical chart.

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USD/CAD, DAX Forecast: Two trades to watch

USD/CAD rises after Trump’s tariff threat. DAX falls on trade worries.

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November 26, 2024 04:20 AM
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Trump tariff threat roils markets: USD surges, CAD, AUD, NZD sink

Trump’s tariff threats send shockwaves through markets, driving the USD higher as trade-reliant currencies plunge. USD/CAD breaks to pandemic highs, while AUD and NZD reel from fears of escalating protectionism.

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November 25, 2024 07:42 PM

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US Dollar Forecast: USD/CAD to Face Uptick in US PCE Index

The depreciation in USD/CAD may turn out to be temporary as the US Personal Consumption Expenditure (PCE) Price Index is anticipated to show sticky inflation.

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By : David Song
November 25, 2024 01:05 PM

Canadian Dollar Technical Forecast: USD/CAD 1.4000 Test After 4-Year Highs

USD/CAD tested above a major level last week of 1.4000, which hadn’t traded in more than four years. So far this week sellers have sunk price back below that level, but can they hold it into week and month-end?

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USD/CAD Rally Unravels to Pull RSI Back from Overbought Zone

USD/CAD may continue to trade to fresh weekly lows as the RSI falls back from overbought territory.

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By : David Song
November 20, 2024 12:55 PM
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EUR/USD, USD/CAD: A fresh look at setups for clues on what comes next

With a quiet macro calendar, we revisit USD/CAD and EUR/USD trade setups to evaluate what could happen next.

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November 19, 2024 09:38 PM

AUD, CAD, NZD lead the pack as commodity-FX bounce enters third day

Hot CPI from Canada, a rise of geopolitical tensions and increased threat of tariffs played nicely for commodity FX bulls, with AUD, CAD and NZD leading the pack among FX majors on Tuesday. And there could be some wriggle room for further gains.

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Canadian Dollar Short-term Outlook: USD/CAD Trump Rally Unravels

The Trump rally failed at technical resistance last week with a two-day plunge testing the first line of defense. Battle lines drawn on the USD/CAD short-term charts.

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USD/CAD: Eyes on inflation report as reversal sets stage for further downside

USD/CAD signals a potential reversal as the Canadian dollar gains ahead of today’s inflation report. While markets expect a slight pickup in inflation, any surprise could impact the pace of future rate cuts by the Bank of Canada. Traders are watching key support levels for signs of a continued downturn.

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November 18, 2024 11:14 PM
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Canadian Dollar Forecast: USD/CAD Rally Clears 2022 High

USD/CAD continues to register a fresh yearly high (1.4106) after clearing the 2022 high (1.3978).

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By : David Song
November 17, 2024 03:00 AM
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USD/CAD 1.40, USD/JPY 155, Dollar Domination Continues to DXY Gap

The US Dollar has continued its rally after Trump’s win and last week’s FOMC rate decision, and DXY is now testing some unfilled gap from last November’s FOMC meeting.

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US Dollar Forecast: USD/CAD on Cusp of Testing 2022 High

USD/CAD is on the cusp of testing the 2022 high (1.3978) as it pushes above the opening range for November.

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By : David Song
November 12, 2024 03:05 PM
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US Dollar to Range Resistance, EUR/USD to Support, USD/CAD 1.4000

The USD rally has continued and DXY is nearing some key points of range resistance. EUR/USD is tanking and 1.0500 is the next logical spot of support potential. But it’s USD/CAD with the 1.4000 level that’s of interest for USD pullback scenarios.

Canadian Dollar Technical Forecast: USD/CAD Bulls Eye Resistance

USD/CAD snapped a five-week winning streak with the November opening-range now poised for a breakout post-US elections. Battle lines drawn on the weekly technical chart.

USD/CAD Still Holds Below Monthly High Following Dovish Fed Rate Cut

USD/CAD still holds below the monthly high (1.3959) as the Federal Reserve delivers a dovish rate-cut.

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By : David Song
November 7, 2024 05:00 PM
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Canadian Dollar Short-term Outlook: USD/CAD Trump Rally Faces Fed

USD/CAD erased the early-week sell-off with the Trump rally now poised for a test of technical resistance. Battle lines drawn on the short-term charts into the Fed.

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EUR/USD, USD/JPY, USD/CAD, S&P 500: US Dollar Price Action into the Election

The US Dollar is pulling back on election day and the currency is no longer overbought on the daily chart. In this webinar I looked at several election-related setups and in this article I look at a few of those in USD, EUR/USD, USD/JPY and USD/CAD.

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USD/CAD Reverses Ahead of 2022 High with Fed Rate Decision on Tap

USD/CAD appears to be reversing ahead of the 2022 high (1.3978) as the Relative Strength Index (RSI) falls back from overbought territory.

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By : David Song
November 4, 2024 03:20 PM
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USD/CAD teeters on bearish reversal brink ahead of US election

USD/CAD is on the cup of delivering a reversal pattern, with momentum shifting ahead of the US election. Traders should be on alert for a potential short setup.

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November 3, 2024 08:56 PM
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EUR/USD, USD/JPY, USD/CAD: USD Price Action into the Election, FOMC

The US Dollar is working on its first red weekly bar since late-September. While the currency spent most of the past week pulling back, buyers showed a strong reaction to an ugly looking NFP print.

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Pre-NFP USD Price Action Setups: EUR/USD, USD/JPY, USD/CAD

The US Dollar has finally pulled back. But – there’s now a key support level in play and tomorrow’s NFP report can be a major market mover, as it’s an early look at October activity in the world’s largest economy.

Canadian Dollar Technical Forecast: USD/CAD Bulls Go For the Break

USD/CAD is attempting a fifth weekly advance the bulls threatening a major breakout today. Battle lines drawn on the weekly technical chart.