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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
Low
High
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The $VIX can't continue to trace out this coasting pattern for long. Again, I don't usually throw technical analysis on indicators derived from underlying activity, but VIX has become a trading vehicle in its own right https://t.co/qBvMeOCmmW
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.31% Oil - US Crude: -0.08% Gold: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DpPoyNP5hl
  • After a strong breakout this summer, Gold prices have now spent almost six months digesting. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/H7k5kv4N5i https://t.co/shvReKpe1U
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ivQLPokYOs
  • The US Dollar is now trading lower again. After hitting an intraday low around 90.15, the $DXY rebounded to 90.25 but has turned toward again, falling back below 90.20. $USD https://t.co/xyglMBmakL
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% Wall Street: 0.06% US 500: 0.03% Germany 30: 0.02% FTSE 100: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SbFlX1iTdj
  • #Gold is consolidating slightly higher this week, around $1,850, after the precious metal's failed attempt at breaking above the $1,870 level last week. $XAU $GLD https://t.co/MyeWiBSQZR
  • US 10yr yields have notably tightened, falling from 1.10% yesterday to trade around 1.04% today. Yields still remain elevated in 2021 compared to earlier in the pandemic. $GOVT $IEF $USD https://t.co/uT27KDUkhM
  • Hey traders! Get your Tuesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/WPk9aapKhs
  • $EURGBP is currently trading around 0.8855, nearing the lows set around 0.8840 last week. A break below this level would mark the pair's lowest level since May. $EUR $GBP https://t.co/QinuctvrVK
Canadian Dollar Forecast: AUD/CAD, CAD/CHF Nearing Key Levels

Canadian Dollar Forecast: AUD/CAD, CAD/CHF Nearing Key Levels

Thomas Westwater, Contributor

Canadian Dollar, AUD/CAD, CAD/CHF - Talking Points

  • Rising crude oil prices breathing life into Canadian Dollar
  • AUD/CAD bulls winning fight against oil-boosted CAD
  • CAD/CHF nearing a breakout on upper bound of triangle?
Advertisement

The Canadian Dollar is seeing inflows on rising crude oil prices this week. WTI prices are over 26% higher for November. Overall improvements in market sentiment on vaccine headlines have boosted the commodity as the economic outlook cleared. The lift in energy prices is well reflected across oil-sensitive Canadian Dollar currency pairs.

AUD/CAD Outlook:

The Australian Dollar continues to gain against the Canadian Dollar despite the rise in WTI. The move higher is partly explained by the risk-sensitive Aussie, reflecting current upbeat market sentiment amid Covid vaccine headlines and improving economic outlook prospects.

AUD/CAD recently saw a bullish technical signal form with the 20-day Moving Average (MA) crossing above its 50-day one. The pair has now cleared the October closing high and is aiming to test the lower end of a resistance range seen from July to September of this year. However, previously tested trendline resistance from the 2018 swing high may challenge further movement to the upside.

AUD/CAD Daily Price Chart

AUD/CAD Chart

Chart created with TradingView

CAD/CHF Outlook:

The Canadian Dollar is faring much better against the anti-risk Swiss Franc. Unlike the Aussie, safe-haven outflows from the Franc appear to be having a bullish impact on CAD/CHF as traders unwind safety-linked assets. The compounding effect from the risk-on mood and rising oil prices will likely be a short-to-mid-term boon for the pair.

Earlier this month, CAD/CHF climbed above its 200-day MA. Now, with the 50-day MA on the move higher, a Golden-Cross appears to be nearing formation. The pair has also been trading within a Symmetrical Triangle and is approaching the upper range of the pattern. A move higher would likely signal a breakout and bolster bullishness.

CAD/CHF Daily Price Chart

CAD/CHF Chart

Chart Created with TradingView

Canadian Dollar TRADING RESOURCES

--- Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwateron Twitter

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

DISCLOSURES