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
Wall Street
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
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today:
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
Canadian Dollar Technical Analysis Overview: USD/CAD Consolidation Following Reversal

Canadian Dollar Technical Analysis Overview: USD/CAD Consolidation Following Reversal

Justin McQueen, Strategist

CAD Analysis and Talking Points

  • USD/CAD | Consolidation Following Reversal
  • CAD/JPY | Trend Support Underpins

USD/CAD | Consolidation Following Reversal

Since Friday’s rebound in USD/CAD, the pair has largely been in consolidation mode throughout the week and now tests support at 1.3225. That said, while a break below puts the pair at risk of dropping to 1.3160-80, the continued easing in trend indicators suggest that the pair may remain in consolidation. On the topside, USD/CAD gains in the near term look somewhat limited with resistance capping at 1.3270, while the 200DMA resides at 1.3276, therefore rallies offer attractive pullbacks. However, downside risks would likely ease back on a breach above 1.3290, whereby we would look for a retest of the 1.3330-45 zone.




38.2% Fib






October Double Top


December low


61.8% Fib

USD/CAD Price Chart: Daily Time Frame (May 2019 – Dec 2019)

Canadian Dollar Technical Analysis Overview: USD/CAD Consolidation Following Reversal

Source: IG Charts

CAD/JPY | Trend Support Underpins

CADJPY remains underpinned by trend support, however, given the repeated failure to consolidate above 82.43 (38.2% Fib) we are somewhat cautious on the outlook for CAD/JPY. President Trump’s decision on whether he will delay the December 15th tariffs will be important for the cross, however, while a decision to delay tariffs would be positive, we view that gains are limited above to resistance at 82.80. On the downside, we see a risk of 81.30 on a firm close below trend support.

CAD/JPY Price Chart: Daily Time Frame (Oct 2018 Nov 2019)

Canadian Dollar Technical Analysis Overview: USD/CAD Consolidation Following Reversal

--- 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.