News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more


Thomas Long, Course Instructor

Canada is a major producer and exporter of oil and as a matter of fact is the biggest provider of oil to the US. So when the price of oil rises, the CAD has a tendency to also rise. We talked about how weak the European currencies have been this year and this daily chart of the EUR/CAD sums up both situations nicely. This is a strong downtrend which means we should be looking for selling opportunities. This current move up may be the start of a corrective move that may offer that opportunity since the ideal sell is a move up to resistance in a downtrend. However, I would prefer to see the market remain below the 1.44416 buy side high of February 26th before reversing back to the downside. A move up through that level would not indicate a change of trend, but might be a reason to look elsewhere for a trading opportunity.

eurcad 031110



DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.