The USDCAD pair forms an ascending triangle ahead of the GDP release later today. Moreover, the bullish pattern might be interpreted as part of a pennant formation – another clue that the pair’s recent strength will likely continue. These days it is all about the U.S. election and the USD. […]
In this section, you will find important USDCAD news, actionable trading ideas, and a live USDCAD chart to help you understand how the Canadian Dollar trades.
USDCAD also is known as Loonie amongst Forex traders, is the ticker symbol in FX markets that represents how many Canadian dollars you can buy with one US dollar. USDCAD is one of the major FX pairs with liquidity and narrow spreads. USDCAD is a commodity pair because the Canadian economy is a natural resources export economy. The other commodity pairs are AUDUSD and NZDUSD. Important role to the value of USDCAD plays the price of oil, due to large trading volumes of oil between the two countries. Other factors that affect the Loonie exchange rate are interest rates, unemployment, economic growth, and public deficit.
Live USDCAD Chart
USDCAD keeps a bullish bias while in a rising channel, eyeing a move to 1.37.
The USDCAD pair is one of the best performers this September. It rose from 1.30 to almost 1.35 after forming an inversed head and shoulders pattern. The reversal pattern acted like a textbook one – similar consolidation on the left and right shoulders, then the price heading for the measured […]
The USDCAD pair formed a classic reversal pattern at the 1.30 level – an inversed head and shoulders with a measured move that points to the 1.35 level. Once again, the pair found support at the 1.30 level, a key level with multiple technical implications on the bigger timeframes. Both […]
USDCAD fails at the neckline and still needs to confirm a bullish reversal pattern.
Bullish USDCAD scenario points to 1.34.
USDCAD trades lower as BoC holds rates. Find out reasons for today’s price action by signing up today.
Higher USDCAD ahead of BOC as crude oil decline sends CAD lower.
US stocks continued their deep dive yesterday. The Dow Jones, Nasdaq 100, and S&P 500 indices dropped by 2.25%, 2.78%, and 4.11%, respectively. This decline is continuing in the futures market, where futures tied to the Dow and S&P 500 are down by 0.40% and 0.20%. Those tied to the […]
The USDCAD was higher last week as the greenback tried to shake off months of weakness against global currencies. Strong manufacturing data and a drop in the unemployment rate made traders believe that the U.S. economy was mounting a real recovery….
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