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
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/mFZ7MF273J
  • 🇨🇳 FDI (YTD) YoY (APR) Actual: 38.6% Previous: 39.9% https://www.dailyfx.com/economic-calendar#2021-05-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.13%, while traders in GBP/JPY are at opposite extremes with 65.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7cb0zMMeyv
  • Heads Up:🇨🇳 FDI (YTD) YoY (APR) due at 08:00 GMT (15min) Actual: 38.6% Previous: 39.9% https://www.dailyfx.com/economic-calendar#2021-05-13
  • The US Dollar may rise further if #PPI data stokes inflation fears, helping #AUDUSD to complete a major bearish chart pattern - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/05/13/US-Dollar-May-Rise-Futher-as-PPI-Data-Stokes-Inflation-Fears.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #inflation #fed #yield https://t.co/jdqwQNUwUR
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/o6Hjx9GLAj
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.25% Silver: 0.03% Oil - US Crude: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/F3GwOA9XUE
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.26% 🇨🇭CHF: 0.23% 🇳🇿NZD: 0.23% 🇦🇺AUD: 0.13% 🇬🇧GBP: 0.11% 🇨🇦CAD: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/siGeNlXpYf
  • No, it's not a crypto/altcoin, it's the VIX...#vix @DailyFX https://t.co/1To6DMoZQj
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.14% Wall Street: 0.04% Germany 30: -0.87% France 40: -0.94% FTSE 100: -1.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8fhKptxKMf
USD/CAD Technical Analysis – Long Position Remains in Play

USD/CAD Technical Analysis – Long Position Remains in Play

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CAD Technical Strategy: Long at 1.0907
  • Support: 1.0849 (trend line), 1.0813 (May 8 low)
  • Resistance: 1.0973 (14.6% Fib exp.), 1.1072 (23.6% Fib exp.)

The US Dollar is edging upward against its Canadian counterpart as expected after prices completed a bullish Piercing Line candlestick pattern. The bulls now aim to challenge the 14.6% Fibonacci expansion at 1.0973, with daily close above that exposing the 23.6% level at 1.1072. Falling trend line resistance-turned-support is now at 1.0849, with a reversal back below that eyeing the May 8 low at 1.0813.

We bought USDCAD at 1.0907, initially aiming for1.0973. A stop-loss is set to trigger on a daily close above 1.0849. We will take profit on half of the position at 1.0973 and trail the stop-loss to the breakeven level.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

USD/CAD Technical Analysis – Long Position Remains in Play

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES