Tag Archives: CAD

The technical outlook is unchanged, and the movements of the Canadian dollar did not change, maintaining the expected bearish context and the regular movements within the descending channel. Technically and carefully considering the 4-hour chart, we find the simple moving averages continuing their negative pressure on the price from above, …

Euro sinks after ECB rate hike, US dataThe euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank raised interest rates and following Thursday’s US data showing that the world’s biggest economy rebounded more than expected in the third quarter.The ECB …

The Canadian dollar achieved the negative targets required during the previous technical report to reach the first target at 1.3545, approaching by a few points from the second target of 1.3495, recording the lowest level at 1.3505. Technically and carefully considering the 4-hour chart, we find the simple moving averages …

The Canadian dollar is trading with noticeable negativity after it failed to maintain positive stability above the 1.3655 support level, to witness the current movements of the pair stabilizing around its lowest level during the early trading of the current session, around 1.3595. Technically, we tend in our trading to …

Negative trading returned to control the Canadian dollar after hitting the resistance level of 1.3850, which forced the pair to trade negatively again, touching the level of 1.3610. Technically, and carefully considering the 4-hour chart, we find the pair trying to build a base on the 1.3680 support level and, …

The data published by Statistics Canada revealed on Friday that Retail Sales grew by 0.7% on a monthly basis in August following June’s sharp contraction of 2.5%. This reading came in better than consensus estimates pointing to a modest rise of 0.4%. The USD/CAD pair, meanwhile, moves little following the …

The United Kingdom seized most of investors and traders’ attention. During London trading hours, the Financial Times suggested the Bank of England could delay the start of the quantitative tightening bond-selling program, sending the Pound up and adding pressure on the US dollar.However, the BOE quickly denied the news headline, …

As we expected, the Canadian dollar declined noticeably against the US dollar, surpassing the official target station during the previous technical report at 1.3715, recording its lowest level at 1.3657. Technically and carefully considering the 4-hour chart, we find the pair failed to maintain the broken support floor 1.3710, and …

Mixed trading dominated the Canadian dollar’s movements at the end of last week’s trading within an unclear daily direction, to decline quickly as a result of approaching the resistance level of the psychological barrier of 1.3900. Technically, the current movements of the pair are witnessing a stable bearish tendency around …

The Canadian dollar declined quickly yesterday after hitting the resistance level of 1.3980, which forced it to trade negatively, and it is now hovering around the psychological support floor of 1.3700. Technically, we tend to the negativity, relying on the negative crossover of the simple moving averages that pressure the …