Positive trades were evident in the movements of the Canadian dollar, although positivity remained constrained as the pair stabilized below the formidable resistance level at 1.3500. From a technical analysis standpoint today, intraday trading shows stability below the psychological barrier resistance of 1.3500. The 14-day momentum indicator has started to …
Read More »CAD retest support 23/1/2024
The Canadian dollar experienced an upward movement in the previous trading session, following an upward trend and reaching its highest level at 1.3486. In terms of technical analysis, intraday trading is currently stable below the psychological barrier resistance of 1.3500. Additionally, the 14-day momentum indicator is showing negative signals, suggesting …
Read More »Canadian dollar has thin trading ahead of BoC decision
The Canadian dollar is experiencing limited momentum as markets flatten out in a quiet North American trading session. The Bank of Canada’s rate decision on Wednesday is expected to have a limited impact on the Canadian dollar. The latest New Housing Price Index figures from Canada are due in the …
Read More »CAD finds strong resistance 19/1/2024
The Canadian dollar displayed a period of calm trading following several consecutive sessions of growth, reaching its highest point around 1.3540, ultimately closing below the psychological resistance level of 1.3500. Examining the technical aspects today, intraday trading remains stable below the psychological barrier of 1.3500. The 14-day momentum indicator is …
Read More »CAD touches the first goal 18/1/2024
The Canadian dollar has experienced a gradual ascent in line with the anticipated positive outlook outlined in the preceding technical analysis, successfully reaching the initial target set at 1.3540, with its highest point recorded at 1.3542. Examining the technical aspects today, intraday trading is holding below the psychological resistance threshold …
Read More »CAD: positive scenario intact 17/1/2024
The Canadian dollar successfully reached the initial upward target in the preceding trading session, attaining the milestone at 1.3500 and marking its peak at 1.3502. Analyzing the 4-hour chart, we observe the simple moving averages persisting in guiding the price from below, concurrently with positive signals from the momentum indicator. …
Read More »CAD resumes its ascent 16/1/2024
An upward trend has reasserted control over the movements of the Canadian dollar, establishing solid support around 1.3410. The current trading levels witness stability around the highest point reached early in the morning at 1.3475. Upon closer examination of the 4-hour chart from a technical perspective, the simple moving averages …
Read More »CAD making notable gains 12/1/2024
The Canadian dollar experienced an upward trend, aligning with the anticipated positive outlook outlined in the latest technical report. The currency touched the target at 1.3430 and recorded its highest level at 1.3443. From a technical perspective today, there are early signs of negativity emerging on the Stochastic indicator. Furthermore, …
Read More »Market Drivers – US Session, Jan 11
Following Iran’s announcement early on Thursday that a civilian oil tanker had been captured in the Gulf of Oman, WTI crude oil saw a spike in price. The seizure, according to official Iranian state media, was a reprisal for the US seizing the identical ship, which was headed towards Iran, …
Read More »Market Drivers – US Session, January 9, 2024
“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told US media outlets. A false social media post said that the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly …
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