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
Oil - US Crude
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
  • White House: - No sign yet that the Delta variant has had an economic impact in the US - Mask guidance to be determined at the local level
  • The final week of July brings forth a packed economic calendar – particularly for the US Dollar: June durable goods orders; July consumer confidence; the July FOMC meeting; and 2Q’21 US GDP. Get your market update from @CVecchioFX here:
  • There is a creep of uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3👉
  • NY Fed accepts $891.20 billion in reverse repo operations $USD $DXY
  • White House: Because of the Delta COVID variant, the US will maintain global travel restrictions
  • Technical Levels: #Dollar, #Loonie, #Aussie, #Gold, #Silver, #Oil, #Bitcoin and more! (Webinar Archive) -
  • Russian mainline gas pipeline has exploded in the Perm region - BBG #OOTT #Oil $CL_F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.10%, while traders in Wall Street are at opposite extremes with 75.09%. See the summary chart below and full details and charts on DailyFX:
  • Pfizer, Moderna to expand vaccine studies to children aged 5-11 - BBG $PFE $MRNA
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Gold: -0.18% Oil - US Crude: -0.72% View the performance of all markets via
USD/CAD Rebound Vulnerable to Canada Employment- Key Support 1.2832

USD/CAD Rebound Vulnerable to Canada Employment- Key Support 1.2832

Michael Boutros, Strategist

Talking Points

  • USDCAD responds to near-term support ahead of Canada employment
  • Updated targets & invalidation levels

USDCAD 60min

USD/CAD Rebound Vulnerable to Canada Employment- Key Support 1.2832

Chart Created Using TradingView

Technical Outlook: USDCAD rebounded off structural support on building divergence yesterday shifting the near-term focus higher. We’ve been tracking this setup on SB Trade Desk and heading into tomorrow’s Canada employment report the risk remains weighted to the topside while above the July low at 1.2832.

Interim resistance stands at 1.2947 backed by the weekly open at 1.2982/85. A breach above this region would be needed to validate a larger advance for the dollar targetingthe 61.8% retracement at 1.3024 & the monthly open at 1.3104.

From a trading standpoint I would be looking to fade weakness while above the lower parallel (blue) with a break lower needed to invalidate the reversal play. Such a scenario would target support objectives at 1.2764 and the 2016 low-day close at 1.2723.For the complete setup and to continue tracking this trade & more throughout the week- Subscribe to SB Trade Desk.

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

USD/CAD Rebound Vulnerable to Canada Employment- Key Support 1.2832
  • A summary of the DailyFX Speculative Sentiment Index (SSI) shows traders are net longUSDCAD- the ratio stands at 1.51 (60% of traders are long)- bearish reading
  • Long positions are 30.7% above levels seen last week while Short positions are 21.9% lower during the same time period.
  • Open interest is 2.6% lower than yesterday and 6.8% above its monthly average
  • The recent shifts in SSI positioning on USDCAD suggests traders are continuing to eye this current range as price comes off near-term support. Note that highs in SSI have coincided with lows in price over the last few months and as such, the risk remains for a near-term pop higher.

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Relevant Data Releases This Week

USD/CAD Rebound Vulnerable to Canada Employment- Key Support 1.2832

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s Top Trading Opportunity of 2016

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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