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
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
  • 🇨🇭 Unemployment Rate (JUL) Actual: 3.2% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Heads Up:🇨🇭 Unemployment Rate (JUL) due at 05:45 GMT (15min) Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/WPUL1SO8Fv
  • - #USDollar may catch a haven bid as the US and China lock horns over technology - #TrumpExecutiveOrders may encounter congressional friction, spark dash to cash - #bidenvppick announcement could fail to stir markets unless the choice is unexpected https://www.dailyfx.com/forex/fundamental/article/special_report/2020/08/10/US-Dollar-Comeback-Ahead-US-China-Tensions-Push-Havens-Higher.html
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.01%, while traders in US 500 are at opposite extremes with 77.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AB97lqEJQB
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇳🇿NZD: 0.13% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.05% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ThG7IBzIKu
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.67% France 40: 0.66% Germany 30: 0.60% Wall Street: 0.23% US 500: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2l1TvwiW5l
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/IdM8hb6pI1
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/TJbPf8arC3
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.26% Gold: -0.27% Silver: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4Ap99p4ATh
Canadian Dollar Forecast: USD/CAD Price Faces a Key Support Level

Canadian Dollar Forecast: USD/CAD Price Faces a Key Support Level

2020-07-28 09:53:00
Mahmoud Alkudsi, Analyst

USD/CAD Technical Forecast

  • Weaker US economy’s expectations weigh on the greenback
  • USD vs CAD price resumed bearish price action

USD/CAD Price – Bears in Charge

Last week, USD/CAD hit a six-week low at 1.3351. However, the price rallied after as some bears seemed to cover. Ultimately, a weekly candlestick closed in the red with a 1.1% loss. Alongside that, the Relative Strength Index (RSI) fell from 44 to 39 reflecting stronger bearish momentum.

The rise in coronavirus cases in the US has affected the US growth expectations for the third quarter of this year and sent the US dollar lower against its peers.

USD/CAD DAILY PRICE CHART ( April 9, 2018 – July 28, 2020) Zoomed Out

usdcad daily price chart 28-07-20 Zoomed out
USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q3 USD Forecast
Get My Guide

USD/CAD DAILY PRICE CHART (April 15 – JuLY 28, 2020) Zoomed In

usdcad daily price chart 28-07-20 Zoomed in

In July 21, USD/CAD ended its sideways move and declined to the current 1.3511 -1.3291 trading zone indicating a shift in favor of bears to control.

A daily close below the low end of the current trading zone may encourage bears to press USDCAD towards the monthly support level at 1.3015 (around October 2008 high).

On the other hand, a failure in closing below the low end of the trading zone may cause a reversal towards the high end of the zone at 1.3511 ( around February 2016 low).

Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

USD/CAD four hour PRICE CHART (June 10 – JuLY 28, 2020)

usdcad four hour price chart 28-07-2020

Last week, USD/CAD rebounded from the downward slopping trendline resistance originated from the July 20 high at 1.3600 indicating that bearish momentum was still intact.

To conclude, while the downward bias is still in place a break below the aforementioned downward trendline reflects a weaker bearish sentiment. Therefore a break above the July 24 high at 1.3445 may trigger a rally towards the high end of the current trading zone discussed above on the daily chart at 1.3511, while a break below 1.3264 could send USDCAD towards the 1.3200 mark. As such, the daily support and resistance levels marked on the four-hour chart should be monitored.

Written By: Mahmoud Alkudsi, Market Analyst

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.


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.