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
Mixed
Oil - US Crude
Mixed
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
Wall Street
Mixed
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • A late-season cold snap in the United States is driving natural gas prices higher this week but will it last? Find out from @FxWestwater here:https://t.co/yMOBLPcSFU https://t.co/aa0s2x0Kce
  • 7 out of 11 S&P 500 sectors ended lower, with 63% of the index’s constituents closing in the red. Energy (-2.66%), financials (-1.81%) and consumer discretionary (-1.22%) underperformed, while defensive-linked utilities (+1.32%) and real estate (+1.12%) outperformed. https://t.co/OkTMeRjfjH
  • 🇳🇿 Inflation Rate QoQ (Q1) Actual: 0.8% Expected: 0.7% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-20
  • 🇳🇿 Inflation Rate YoY (Q1) Actual: 1.5% Expected: 1.4% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-04-20
  • The Canadian Dollar recently weakened against some of its major counterparts. USD/CAD is eyeing key support, with GBP/CAD looking to extend gains. CAD/JPY may bounce next. Get your market update from @ddubrovskyFX here:https://t.co/v9Y6A50NdV https://t.co/3WXFSUMwb6
  • Heads Up:🇳🇿 Inflation Rate QoQ (Q1) due at 22:45 GMT (15min) Expected: 0.7% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Heads Up:🇳🇿 Inflation Rate YoY (Q1) due at 22:45 GMT (15min) Expected: 1.4% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-04-20
  • US 10-Year Treasury yields eyeing a retest of key support at 1.53 after backtesting the neckline of the Head and Shoulders pattern carved out in March. Implied measured move to 1.42 is the next stop if 1.53 gives way #US10Y https://t.co/pS2rQycU6s https://t.co/bKWi72ja6q
  • USD/CAD recovery testing multi-week high / April opening-range - breakout potential. Resistance 1.2619, bearish invalidation at 1.2774 - support 1.2473. Get your $USDCAD market update from @MBForex here:https://t.co/MI4MCv9dY3 https://t.co/U9YqNUjJv9
  • Melbourne looking magnificent this morning https://t.co/OuvDnuKUv7
FOREX Technical Analysis: USD/CAD Trade Setup against November Low

FOREX Technical Analysis: USD/CAD Trade Setup against November Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDCAD_Trade_Setup_against_November_Low_body_usdcad.png, FOREX Technical Analysis: USD/CAD Trade Setup against November Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: No change - “The USDCAD rally from September is in 5 waves therefore the reversal should be respected. The most common retracement area following 5 wave movements is the former 4th wave, which comes in at 9874. The USDCAD reversed sharply before reaching 9900. The corrective nature of weakness from 10056 is suggestive of a move back towards parity. Given the length of time that the rally from 9632 consumed, it’s more probable that the 3 wave decline from 10056 is just wave A of a larger corrective pattern rather than the entire correction.”

FOREXTrading Strategy: Near term, loo higher towards parity but into a top for a larger decline towards 9874.

LEVELS: 9835 9874 9905 9960 10009 10056

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

DISCLOSURES