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CAD

Potential bullish bounce?CAD/JPY has just bounced off the support level which is a pullback support that that aligns with the 127.2% Fibonacci retracement and could rise to our take profit. Entry: 115.51 Why we like it: There is a pullback support level which aligns with the 127.2% Fibonacci extension. Stop loss: 115.03 Why we like it: There is a pullback resistance resistance level which aligns with the 161.8% Fibonacci extension. Take profit: 116.97 Why we like it: There is an overlap resistance level which is slightly above the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
USD/CAD - Triangle Breakout - Weekly ForecastThe USD/CAD pair on the H8 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming Days. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3650. Target Levels: 1st Support – 1.3465 2nd Support – 1.3364 Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price falls back unexpectedly. Thank you.
Short
by KABHI_TA_TRADING
6
WEEKLY FOREX FORECAST July 8-12th: FX PAIRS UPDATES!We are updating the Weekly Forecasts for FX Pairs I posted last Saturday. Click the link below to check out the video in case you missed it. Was the analysis accurate? Did we reach our targets? Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
CME:6S1!
by RT_Money
Bullish bounce?EUR/CAD is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance. Pivot: 1.47874 1st Support: 1.47379 1st Resistance: 1.48459 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Heading into 61.8% Fibonacci resistance?CAD/CHF is rising towards the pivot and could potentially reverse from this level to the overlap support. Pivot: 0.65894 1st Support: 0.65618 1st Resistance: 0.66162 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
USDCAD to make a reversal on daily support?USDCAD - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 1.3600. Price action looks to be forming a bottom. We expect a reversal in this move. Momentum is flat, highlighting the lack of clear direction. Risk/Reward would be poor to call a buy from current levels. A move through 1.3625 will confirm the bullish momentum. We look to Buy at 1.3600 (stop at 1.3572) Our profit targets will be 1.3670 and 1.3685 Resistance: 1.3625 / 1.3640 / 1.3650 Support: 1.3610 / 1.3600 / 1.3585 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
USD/CAD Triangle BreakoutThe USD/CAD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3630 Target Levels: 1st Support – 1.3592 2nd Support – 1.3572 Stop-Loss: To manage risk, place a stop-loss order above 1.3650. This helps limit potential losses if the price falls back unexpectedly. Thank you
Short
by KABHI_TA_TRADING
1
Bearish drop?CAD/CHF is reacting off the pivot which acts as a pullback resistance and could fall to the 1st support. Pivot: 0.659903 1st Support: 0.65474 1st Resistance: 0.66173 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Falling towards overlap support, could price bounce from here?NZD/CAD is falling towards the pivot and could bounce to the overlap resistance. Pivot: 0.83166 1st Support: 0.82938 1st Resistance: 0.83551 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
CADJPY Strong sell opportunity at the top of the Channel UpThe CADJPY pair gave us an excellent buy signal last time we looked at it (May 30, see chart below) that easily hit our 116.500 Target: Now it is flashing the opposite, a strong sell signal right after a Higher High (top trend-line) rejection on the 7-month Channel Up pattern. Ahead of a 1D MACD Bearish Cross, the opportunity becomes even more obvious. Every Bearish Leg hit at least the 1D MA50 (blue trend-line) before making a Higher Low, so our Target is set at 115.500, which is an optimal level towards the final week of July. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Could price bounce from here?GBP/CAD is falling towards a support level which is a pullback support that is slightly above the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.7413 Why we like it: There is a pullback support level that is slightly above the 50% Fibonacci retracement. Stop loss: 1.7339 Why we like it: There is a pullback support level which aligns with the 78.6% Fibonacci retracement. Take profit: 1.7512 Why we like it: There is an overlap resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
AUD/CAD has a strong bullish momentum, could it rise further?Price is falling towards the support level which is an overlap support that aligns with the 38.2%% Fibonacci retracement and could bounce from this level to our take profit. Entry: 0.91509 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci retracement. Stop loss: 0.91142 Why we like it: There is a pullback support level which aligns with the 61.8% Fibonacci retracement. Take profit: 0.92096 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Bullish bounce?USD/CAD is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 1.3615 Why we like it: There is a pullback support level. Stop loss: 1.3591 Why we like it: There is a pullback support level which aligns with the 161.8% Fibonacci extension. Take profit: 1.3665 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
CADCHF - 3 EASY Trades!In one of our earlier analysis, we posted a massive short where we banked over 900pips! Now that the bearish trend has completed, we are now in bullish territory. CADCHF is currently in a big bullish ABC correction. Wave B tends to be a complex one and that is what we are currently focusing on. We have 3 trades lined up for CADCHF. Trade 1. - watch for price to complete current retracement - Entries are valid anywhere below the highs - Watch for break of the retracement for continued weakness - Stops above highs - Target: 0.664 (150pips) If this post gets enough engagement, we'll update how to enter with confirmations for trade 2 and 3. Goodluck and as always, trade safe!
by WicktatorFX
AUDCAD Sell signal emerging on a 3.5-year Resistance!The AUDCAD pair just hit on the week's opening the Lower Highs trend-line that was first initiated on February 22 2021. As the 1W RSI is just below its own 3.5-year Resistance Zone, the first strong long-term sell opportunity flashes. Check below how the last AUDCAD analysis (May 29, see chart below) provided an excellent buy opportunity: The more short-term pattern though since the September 25 2023 Double Bottom is a Channel Up and it is close to pricing its new Higher High. This is just above the 3.5 year Lower Highs trend-line, so we give the sell signal this much tolerance level for some deviation. Our Target on the medium-term is 0.9000 (Support Zone 1, similar symmetry to the previous Higher Low on Support Zone 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
Bearish reversal?GBP/CAD is rising towards the resistance level which is an overlap resistance that is slightly below the 127.2% Fibonacci extension and could reverse from this level to our take profit. Entry: 1.75115 Why we like it: There is an overlap resistance level which is slightly below the 127.2% Fibonacci retracement. Stop loss: 1.75584 Why we like it: There is an overlap resistance level which aligns with the 88% Fibonacci retracement. Take profit: 1.74155 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Bearish reversal?GBP/CAD is rising towards the pivot which has been identified as an overlap resistance and could potentially reverse to the 1st support which acts as an overlap support. Pivot: 1.75133 1st Support: 1.74061 1st Resistance: 1.75973 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
1
Potential bullish rise?GBP/CAD is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.73418 Why we like it: There is an overlap support level which aligns with the 50% Fibonacci retracement. Stop loss: 1.72832 Why we like it: There is a pullback support level. Take profit: 1.74604 Why we like it: There is an overlap resistance level which is slightly below the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURCAD Testing the 1D MA50. Sell opportunity.The EURCAD pair eventually formed the new Lower High on the 17-month Channel Down as presented on our last analysis (May 27, see chart below) and got rejected: The rejection extended to as low as the 1D MA200 (orange trend-line) and a short-term rebound has brought the price back to a 1D MA50 (blue trend-line) rejection. Both previous Bearish Legs declined at least by -3.85%. We expect this 1D MA50 rejection to lead the price to at least Support 1, with our Target being 1.45000 (just above it). On a side-note, check the high degree of symmetry between the 1D RSI sequences of the Channel's Legs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Heading into pullback resistance, could it reverse from here?GBP/CAD is rising towards a resistance level which is a pullback resistance that is slightly below the 78.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.74118 Why we like it: There is a pullback resistance level which is slightly below the 78.6% Fibonacci retracement. Stop loss: 1.74573 Why we like it: There is an overlap resistance level. Take profit: 1.73379 Why we like it: There is an overlap support level which aligns with the 50% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Potential bullish rise?The Loonie (USD/CAD) has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as an overlap resistance. Pivot: 1.3620 1st Support: 1.3590 1st Resistance: 1.3667 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Canadian Dollar Struggles Despite Oil SurgeUSDCAD – technical overview Above 1.3000 signals an end to a period of longer-term bearish consolidation and suggests the market is in the process of carving out a more significant longer-term base. Next key resistance now comes in up into the 1.4000 area. Setbacks should be very well supported down into the 1.3000 area. R2 1.3847 – 16 April/2024 high – Strong R1 1.3792 – 11 June high – Medium S1 1.3615 – 25 June low – Medium S2 1.3586 – 10 May low – Strong USDCAD – fundamental overview The Canadian Dollar wasn't impressed at all with a surge in the price of oil, instead getting hit hard on Monday after Stats Canada said growth faded in May. The market has been pushing more towards a Bank of Canada rate cut and this has been weighing on the Canadian Dollar. Key standouts on Tuesday’s calendar come from Eurozone inflation and unemployment, Canada manufacturing PMIs, a Fed Chair Powell speech, and US JOLTs job openings. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets