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
Real Time News
  • Wall Street Futures Update: Dow Jones (-0.08%) S&P 500 (-0.05%) Nasdaq 100 (-0.02%) [delayed] -BBG
  • This week's non-farm payrolls (NFP) will likely be key to gauge the direction of gold as markets look ahead to the Jackson Hole Economic Symposium. Get your market update from @FxWestwater here:
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.01% Gold: -0.21% Silver: -0.21% View the performance of all markets via
  • The Nasdaq 100 may continue outperforming Dow Jones futures ahead as fears about global growth continue weighing on the 10-year Treasury yield ahead of NFPs. What are the risks? Find out from @ddubrovskyFX here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.08% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.10% 🇳🇿NZD: -0.15% 🇦🇺AUD: -0.24% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.31%, while traders in France 40 are at opposite extremes with 79.00%. See the summary chart below and full details and charts on DailyFX:
  • - Will take action if needed - GDP will contract in Q3 - Outlook in near term is uncertain - BBG
  • RBA: - Further major virus outbreaks resulting in lockdowns would delay recovery - BBG
  • The Australian Dollar may face swelling selling pressure from souring risk appetite over the COVID-19 delta variant and escalating tension with China. Get your $AUD markt update from @ZabelinDimitri here:
  • Heads Up:🇦🇺 RBA Statement on Monetary Policy due at 01:30 GMT (15min)
USD/CAD Finds Short Term Support

USD/CAD Finds Short Term Support

Walker England, Forex Trading Instructor

Talking Points

USD/CAD 30 Minute Chart

USD/CAD Finds Short Term Support

(Created using Marketscope 2.0 Charts)

Losing Money Trading? This Might Be Why.

The USD/CAD is attempting to find support today, after the pair broke lower in late trading yesterday. So far, support has been identified at the S3 pivot point displayed below at a price of 1.2780. With price action hovering near this value, it opens the USD/CAD up to potentially rally in the short term. If prices do bounce, traders may look for resistance near 1.2829. This area is represented graphically at the R3 pivot, and is acting as range resistance for today’s 49 pip trading range.

In the event that prices rise above the R4 pivot, it opens the USD/CAD to attempt a bullish breakout above 1.2853. Traders looking for a bullish reversal may extrapolate 1X today’s range to place initial targets near 1.2902. It should be noted that bearish breakouts may begin under the S4 pivot point at 1.2756. A move to this point would be significant as it would mark the 3rd consecutive attempted bearish breakout in the last three trading sessions. In this scenario, traders may again use a 1X extension of the pivot range to place initial targets near 1.2607.

USD/CAD Finds Short Term Support

SSI (Speculative Sentiment Index) for the USD/CAD is currently reading at +1.17. While this value is not extreme, it is important to note that 54% of positioning is net long. If SSI continues to move towards a positive extreme, sentiment may signal further declines for the pair. Alternatively, if prices reverse and trade higher, traders may look for SSI to neutralize of flip to a negative reading.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

Contact and Follow Walker on Twitter @WEnglandFX.

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