USDCAD Breaks Lower as Rate Forecasts Shift Out of Fed’s Favor
USDCAD, Crude Oil and Interest Rate Talking Points: The Market Perspective: USDCAD Bearish Below 1.3500 USDCAD’s violent reversal this past Friday amid US and Canadian employment data led to a clear break of trendlines support and the 100-day SMA With the midpoint of the August to October advance in view, follow through will need to […]
USDCAD Double Zigzag To End Near 1.403
On the current USDCAD chart, we see the internal structure of a large correction pattern similar to a cycle triple zigzag w-x-y-x-z. Now the final actionary sub-wave z is being built. This waves takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, where the sub-waves Ⓦ-Ⓧ are formed. Thus, at the moment it is possible […]
USDCAD: Elliott wave analysis and forecast for 06.01.23 – 13.01.23
2023-01-06 2023-01-06 USDCAD: Elliott wave analysis and forecast for 06.01.23 – 13.01.23 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider long positions from corrections above the level of 1.3452 with a target of 1.3975 – 1.4205. Alternative scenario: breakout and consolidation below the level of 1.3452 will allow the pair to continue declining to the levels of 1.3220 […]
USDCAD bounces off the 100 day MA today…and again
Yesterday, the USDCAD moved sharply lower despite the fact that oil prices were tumbling to the downside. Below is the post on the pair. Here is the link: https://www.forexlive.com/technical-analysis/oil-is-down-350-but-usdcad-is-lower-by-134-20230104/ Maybe the move to the downside (higher CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is […]
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
US Dollar Talking Points: USD strength is showing up today as DXY is testing a breakout above the 105.00 level. This morning’s ADP numbers gave a boost to the Greenback but tomorrow’s NFP report may be more impactful as intense focus will be paid to the Average Hourly Earnings (AHE) component for signs of wage […]
USD/CAD Bearish Engulf Resisted by Stronger USD
USD/CAD ANLAYSIS Uncertainty around China and U.S. policy lingers. U.S. labor and Canadian balance of trade dominates headlines today. Will the bearish engulf unfold to further CAD strength? Recommended by Warren Venketas Get Your Free Top Trading Opportunities Forecast USD/CAD FUNDAMENTAL BACKDROP The Canadian dollar reacted favorably to Chinese economic optimism giving the commodity currency […]