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
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • PBoC will also strengthen management of information on internet about cryptocurrencies
  • PBoC issues notice to further prevent and dispose of risks from Cryptocurrency speculation and will strengthen monitoring of risks from Crypto trading Adds that cryptocurrency-related activities are illegal
  • China State Planner says they will not allow financial support for new Crypto mining projects or allow these projects to participate in electricity markets
  • China State Planner issues notice on crackdown on Cryptocurrency mining
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • 🇩🇪 Ifo Business Climate (SEP) Actual: 98.8 Expected: 98.9 Previous: 99.6
  • 🇮🇹 Consumer Confidence (SEP) Actual: 119.6 Expected: 115.8 Previous: 116.2
  • 🇮🇹 Business Confidence (SEP) Actual: 113 Expected: 112.6 Previous: 113.2
  • 🇩🇪 Ifo Business Climate (SEP) Actual: 98.8 Expected: 98.9 Previous: 99.4
USD/CAD Identifying the Trend

USD/CAD Identifying the Trend

Walker England, Forex Trading Instructor

Trend identification, is the primary step for directional traders upon viewing any chart. Today we will begin our analysis of a USD/CAD 8H chart. We can see that the pair created a low on July 24th at .9406. The pair continued higher until December 4th which posted a price at 1.0657. Twenty-five days have passed since this high has been created. The key part of an uptrend is the creation of fresh highs, many traders are left asking, “Where is the trend?” The answer can be found by blocking your chart off into smaller segments.

USD.CAD_Identifying_the_Trend_body_Picture_1.png, USD/CAD Identifying the Trend

One method of trend identification I prefer utilizes a 30m chart. Each block can be drawn by marking off Sundays and Wednesdays using the vertical line tool inside of Marketscope 2.0. Once your chart is blocked, it is key to begin using price action to looking for relative lows and highs. An uptrend should consistently be making higher highs, and higher lows. Conversely, a downtrend should create lower lows and highs.

USD.CAD_Identifying_the_Trend_body_Picture_2.png, USD/CAD Identifying the Trend

My preference is to trade the USD/CAD only when two blocks of market data gives a clear market bias. Meaning in an uptrend, there should be one week of trading data, pointing to the up or downside. At the present the USD/CAD is concluding the first block of a down movement. Using the steps above, we should wait for Sundays open prior to considering short positions.

Trading using the blocking method has the ability to help us avoid and manage potentially damaging short term market shifts. Patience is important, but once a trend is found we can use our market bias to trade the method of our choosing.

Additional Resources


Where are the trades

Setting Trading Expectations from Daily Chart

---Written by Walker England, Trading Instructor

To contact Walker, Follow me on Twitter at @WEnglandFX.

To be added to Walker’s e-mail distribution list, send an email with the subject line “Distribution List” to

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