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Usdcadsignal

USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS⛔️ DXY is currently at 103.69 LEVEL. USD has become STRONG with RATE HIKE SENTIMENT in the last few days. Also, the CAD FEATURE is slightly up to 0.7688 LEVEL. However, CAD is a bit WEAK compared to DXY. ⛔️ Currently the OVERALL MARKET is RISK ON. STOCKS is currently displaying a GREEN SIDE BIAS. Also the VOLATILITY is getting a bit DOWN. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is only one RISK ON TONE in the market. Therefore, all currencies such as NZD CAD AUD can definitely be UP in the future. Also JPY CHF can be DOWN. ⛔️ USDCAD PRICE can be DOWN to 1.2879 LEVEL before re-UP. Then the USDCAD PRICE can be UP again up to 1.3167 LEVEL. The USD is slightly stronger at this time due to the MARKET SENTIMENT. But over time, that is likely to change. The OIL PRICE applies to USDCAD, and the decisions made in OPEC MEETING will have the greatest impact on USDCAD. It could be a DXY CORRECTION in the future because it has been BUY for the last few days. So stay tuned for that.
by benny_marshall
USDCADThe US dollar has pulled back a bit during the trading session on Wednesday after the Federal Reserve raised interest rates by 50 basis points. This was widely expected, so that was knocking to move the needle much. That being said, the market is likely to continue to see a lot of questions asked as to where we are going to go in the future, but I think at this point we are more likely than not going to continue to see more of the same back-and-forth that we have over the last several months. Quite frankly, not much has changed as the 1.29 level has held quite significantly. Underneath, the 1.25 level is massive support, so the fact that we are at the top of the range should not surprise people in the sense that it has turned things around. If we were to break above the 1.29 level, then it would be very bullish for the US dollar, but it should be noted that the crude oil market was very strong during the day, and therefore I think it is very likely that we drift lower from here. I would not necessarily suggest some type of meltdown, just a continuation of the overall range-bound trading that we had seen. In other words, I think is going to be more of the same. Keep in mind that this pair does tend to be very choppy as the two countries do so many cross-border transactions, but if you are a range-bound trader this might be the best place to be right now. We have clearly defined levels that we can pay close attention to, and as long as that is going to be the case I see no reason to fight what could be a very lucrative market. You need to be a bit cautious about overextending yourself because we do get the occasional violent move, but at this point, it is obvious that there are buyers and sellers at very distinct points on this chart, which is part of what makes it so interesting. I do not see this market breaking out, but if we were to clear the 1.30 handle, then we could start moving to the upside, in a very dangerous “risk-off” type of situation. You would probably see the oil markets under serious pressure at the same time.
by SmoothJB