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
  • 🇯🇵 Coincident Index Final (SEP) Actual: 81.1 Expected: 80.8 Previous: 79.4
  • 🇯🇵 Leading Economic Index Final (SEP) Actual: 92.5 Expected: 92.9 Previous: 88.5
  • The Dollar has closed with a technical break to its lowest level since April 2018 after the Dow's 30,000 break. Yet seasonality may curb the potential on high-level trends, where are risk trends pointing short, medium and long-term?
  • Heads Up:🇯🇵 Leading Economic Index Final (SEP) due at 05:00 GMT (15min) Expected: 92.9 Previous: 88.5
  • Heads Up:🇯🇵 Coincident Index Final (SEP) due at 05:00 GMT (15min) Expected: 80.8 Previous: 79.4
  • RT @FxWestwater: S&P 500 May Rise Further, Fed-Treasury Affray Brushed Aside for Now Link: $SPX $SPY #FOMC #FED ht…
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:
  • How does stock market liquidity benefit its traders? Learn more here.
  • BoK Governor Lee says Yellen a rational pick for Fed, would be positive for markets - BBG
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.39% Silver: 0.27% Gold: 0.15% View the performance of all markets via
USD/CAD Technical Analysis: Key Breakdown Keeps Focus Lower

USD/CAD Technical Analysis: Key Breakdown Keeps Focus Lower

2015-11-05 22:16:00
Tyler Yell, CMT, Currency Strategist

To receive Tyler’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CAD Technical Strategy: Looking To Sell Rallies
  • 55-DMA And Prior Channel Support May Provide Near-Term Resistance
  • Only A Daily Close > 1.32664 Would Invalidate Bias Lower

USD/CAD will likely be a show stealer in the G10 FX space on November 6th. The October payroll reports out of the United States,and Canada is nearly guaranteed to bring volatility. Technically speaking, USD/CAD has been consolidating between 1.3100/1.3200 and a break and close on the other side of either level could be the first indication of a strong move for the rest of November.

Like many other currency pairs, USD/CAD has been subject to the red-hot US DOLLAR. Traders small and large have been loading up on the US dollar in anticipation of a positive U.S. payroll number on Friday that could cement a rate hike on December 16th, by the Federal Reserve. However, regardless of the fundamental news, the technical level of 1.32664 the closing high of October will appropriately be in focus. A weekly close above 1.32664 could make the argument that multiyear highs are once again on the horizon. Until such a break happens, the recent breakdown towards 1.2831, which seemingly found support from the March 18th high when the Fed tempered optimism for an imminent rate hike.

Reliable short-term resistance and overall USD/CAD direction havebeen found with the 55-day moving average. Currently resting at 1.3173, the 55-dma can act as a direction filter for trading USD/CAD. Going into NFP Friday, price action and close in regards to the 55-DMA and October closing high of 1.32664 will be the tell for USD/CAD. If price remains below both levels, the downside will remain favored toward an eventual retest of 1.28311.

To See What are the Traits of Successful Traders?Click Here

USD/CAD Technical Analysis: Key Breakdown Keeps Focus Lower

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