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
Oil - US Crude
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
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here:
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead:
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here:
  • Continuation patterns can present favorable entry levels to trade in the direction of the prevailing trend. Use continuation patterns in your technical analysis here:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • 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:
Canadian Dollar Price: USD/CAD Looking for a test of Multi-Weeks Low

Canadian Dollar Price: USD/CAD Looking for a test of Multi-Weeks Low

2019-08-27 09:30:00
Mahmoud Alkudsi, Analyst

Canadian Dollar Forecast

Have you seen our newest trading guides for USD, EUR and Gold ? Download for free our latest forecasts

USD/CAD – From Bullish to Bearish

Last week, USD/CAD printed its highest level in over six weeks at 1.3346. However, the pair slipped back after, then settled below 1.3300 handle closing the weekly candlestick with a bearish Doji pattern indicating to a possible reversal on the horizon.

Since Mid- August, the Relative Strength Index (RSI) has been creating lower highs, highlighting the uptrend move’s loss of momentum. Today, the oscillator crossed below 50 indicating to a possible start of downtrend move.

Just getting started? See our Beginners’ Guide for FX traders

USD/CAD DAILY PRICE CHART (Sep 30, 2017 – AUG 27, 2019) Zoomed Out

USDCAD price daily chart 27-08-19 Zoomed out

USD/CAD DAILY PRICE CHART (June 20 – AUG 27, 2019) Zoomed In

USDCAD price daily chart 27-08-19. Zoomed in

Looking at the daily chart we notice, yesterday USD/CAD moved to the lower trading zone 1.3166 – 1.3256. Thus, sellers may press the price lower for a test of the low end on the zone although, the weekly support level underlined on the chart (zoomed in) with the neckline of double top pattern at 1.3184 should to be watched along the way.

It’s also worth noting that, the pair broke below the uptrend line originated from the July 31 low at 1.3105 eyeing a test of 1.3144.

On the other hand, a close above the high end of the current trading zone, could push USDCAD towards 1.3357. Nonetheless, the weekly and daily resistance levels underscored on the chart would be worth monitoring. Further close above 1.3357 could send the price towards 1.3418. The weekly resistance area marked on the chart should be considered.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

USD/CAD Four-HOUR PRICE CHART (July 30 – AUg 27, 2019)

USDCAD price four- hour chart 27-08-19

Looking at the four-hour chart, we notice on Friday USD/CAD spiked and completed the third top of triple top pattern eyeing a break outof the neckline residing at 1.3254 .

On Monday, sellers pressed the price successfully below the triple top neckline. Hence, if USDCAD breaks below 1.3184 this suggests the price may fall towards 1.3144 however, the low end of the aforementioned trading zone should be kept in focus. See the chart to know more about lower support levels USDCAD would encounter in further bearish scenario.

On the flip-side, if USDCAD rallies above 1.3280 it might resume bullish price action towards 1.3338. Although, the daily resistance level underlined on the chart needs to be watched closely. See the chart to find out more about the higher resistance levels USD/CAD would face in a further bullish scenario.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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