During the previous trading session, the Canadian dollar declined noticeably to stop the expected bullish bounce mentioned in the last analysis. The resistance levels of 1.2675 succeeded in limiting the bullish rebound, which forced the pair to retest 1.2560. Technically, with the price stability below the 1.2590 level, 38.20% Fibonacci …
Read More »Breaking: BoC hikes interest rates by 50 bps to 1.00%
The Bank of Canada announced on Wednesday that it had increased benchmark interest rates by 50 bps to 1.00% from 0.50%, as widely expected by analysts. The central bank also announced plans to begin reducing the size of its balance sheet, also known as Quantitative Tightening (QT), from 25 April, given …
Read More »CAD getting bullish momentum 13/4/2022
As we expected, the Canadian dollar continues to gain more bullish momentum, touching the first official target that must be achieved at 1.2660, recording the highest at 1.2661. Technically, the pair’s success in stabilizing above the 1.2600 resistance-into-support and the 50-day moving average supports the daily bullish price curve. Therefore, …
Read More »CAD back in The Bullish Path 12/4/2022
The Canadian dollar maintained the bullish bias that started at the end of last week’s trading to cancel the idea of retesting the support published during the previous analysis and continues the positive stability above 1.2600. Technically, we tend to the positivity, relying on the positive signs of the 14-day …
Read More »CAD facing negative pressure 11/4/2022
There were positive attempts by the Canadian dollar to achieve the expected bullish rebound at the end of last week’s trading, recording its highest level around the psychological resistance level of 1.2600. Technically, the pair’s current movements are witnessing a bearish tendency as a result of the negativity features that …
Read More »The Canadian Dollar touches the rising target 8/4/2022
The Canadian dollar has been able to attain the expected bullish rebound discussed in the previous analysis, touching the first target at 1.2610, recording its highest level at 1.2610. Technically, and with a careful look at the 4-hour chart, the pair continues to obtain positive motive from the 50-day moving …
Read More »CAD bounce back 7/4/2022
The Canadian dollar managed to rebound upwards during the previous session, touching the official target at 1.2560, to record the highest level at 1.2560. Technically, and carefully looking at the 4-hour chart, we notice that the pair is stable above 1.2500, accompanied by the positive motive for the 50-day moving …
Read More »Market Drivers – US Session – 7 April
Inflation in the Eurozone is high and the European Central Bank may soon need to raise interest rates as a result according to statements by Bundesbank President Joachim Nagel on Wednesday.“What we are seeing at the moment suggests that savers may soon be able to look forward to higher interest …
Read More »CAD tries to bounce back 6/4/2022
The Canadian dollar declined noticeably during the last trading session within the expected bearish context, explaining that the breach below the 1.2470 support floor increases the negative pressure on the pair to touch 1.2370, recording a low at 1.2400. Technically and by looking at the 4-hour chart, we notice the …
Read More »CAD is Confused 5/4/2022
The Canadian dollar found it challenging to break the critical support floor for the current trading levels at 1.2470, representing one of the most critical directional keys that helped it retest 1.2540. Technically, and by looking at the 4-hour chart, we notice the pair’s attempts to gain additional momentum from …
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