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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - $CL #Crudeoil #OOTT #OPEC
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • 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:
  • Rising yields and US Dollar creates a weak environment for gold, which trades at a 9-month low. Get your market update from @JMcQueenFX here:
  • RT @FxWestwater: US Dollar Fundamental Forecast: US Dollar Eyes Inflation Data After NFP Boost Link: $DXY https://…
Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Justin McQueen, Analyst

CAD Analysis and Talking Points

  • USDCAD | Key Support Holding for Now
  • CADJPY | Bearish Trend Remains

See the DailyFXQ2 FX forecast to learn what will drive the currency throughout the quarter.

USDCAD | Key Support Holding for Now

Despite last weeks topside breach of the 1.3520 level, failure to consolidate above has seen USDCAD return to its 2-month range with a test now on for a move below 1.34. Consequently, focus on the downside will be the 1.3350-70 zone in which the pare has previously found support. Momentum indicators have tilted to a bearish bias albeit modest so, which in turn could see any downside breaks meet strong support. As such, for a bearish momentum to build eyes will be on for a close below 1.3350, which in turn could open scope for a move towards the 200DMA situated at 1.3270.

USDCAD PRICE CHART: Daily Time Frame (Dec 2018 – June 2019)

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Chart by IG

CADJPY | Bearish Trend Remains

As we have continued to highlight, the trend in CADJPY remains bearish with yesterday providing another example that upticks have been short-lived. Momentum indicators in the short- and long-term timeframes continue to tilt to the downside. Consequently, the cross is now testing key support stemming from the 2017 and 2018 lows (80.50-65) having broken back below the 23.6% Fib level (80.82). As such, a closing break below will raise the risk of another test of the 80.00 handle as CADJPY looks to make a return to flash crash lows. On the topside however, resistance sits at 81.00, while the bearish momentum could abate somewhat providing the cross breaks above 82.00.

CADJPY PRICE CHART: Daily Time Frame (Aug 2018 June 2019)

Canadian Dollar Technical Analysis Overview: USDCAD, CADJPY

Chart by IG

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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