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  • Despite the IMF's update to 2021 growth forecasts and strong earnings after hours, risk trends are pacing like markets are worried. Traders are likely awaiting the Fed, and that has me look at $EURUSD and $USDCAD https://www.dailyfx.com/forex/video/daily_news_report/2021/07/28/EURUSD-and-USDCAD-Reversals-More-Suitable-to-Conditions-but-Beholden-to-Fed.html https://t.co/ywxD4wRAYX
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  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/vvbsYTp4Cx https://t.co/o8Z9bsE0W1
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  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.12% 🇪🇺EUR: 0.03% 🇬🇧GBP: 0.01% 🇳🇿NZD: -0.02% 🇨🇭CHF: -0.03% 🇦🇺AUD: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dANsuTmXWb
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  • RT @FxWestwater: Australian Dollar Outlook: $AUDUSD Snubs Hot Q2 CPI as Sydney Lockdown Extends Link: https://www.dailyfx.com/forex/market_alert/2021/07/28/Australian-Dollar-Outlook-AUDUSD-Snubs-Hot-Q2-CPI-as-Sydney-Lockdown-Extends.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co…
  • 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 75.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GKwSgVlfTy
  • $AUDUSD little changed on an overall mixed Q2 Australian CPI report Headline rates were slightly better-than-expected - 3.8% y/y vs 0.8% seen - 0.8% q/q vs 0.7% seen But, the RBA preferred trimmed mean gauges were as expected - 1.6% y/y - 0.5% q/q Eyes on #Fed next! https://t.co/qIXNi1aURz
USD/CAD Classical Technical Report 04.02

USD/CAD Classical Technical Report 04.02

Joel Kruger, Technical Strategist
Daily_Classical_USDCAD_body_usd.png, USD/CAD Classical Technical Report 04.02

USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely locked in a medium-term consolidation ahead of what we believe will be an eventual retest of the key October highs by 1.0660. We have however revised our outlook somewhat and from here, expect any additional declines to be well supported on a weekly close basis above 0.9750. A daily close back above 1.0050 will help to reaffirm.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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