Showing posts with label USDCAD. Show all posts
Showing posts with label USDCAD. Show all posts

Monday, August 31, 2015

USDCAD Trading Strategy as At August 31, 2015




How will talk of Recession Affect the Loonie?


The USDCAD pair is trading at 1,3253, down a little from the recent high of 1.3271 an hour or so ago.

Here is a current chart.


DaveM-0081


With an election happening in Canada and a recession about to be declared, there is a lot of uncertainty hanging over the Loonie.
As long as the price of Oil and Gold remains weak, Canada’s economy is spinning its wheels.

Here are some recent opinions as to the Canadian dollar.

USD/CAD Forecast Aug. 31-Sep. 4 - Forex Crunch
http://news.google.com Sun, 30 Aug 2015 18:15:00 GMT
Forex CrunchUSD/CAD Forecast Aug. 31-Sep. 4Forex CrunchUSD/CAD gained strength early in the week but then retracted and was almost unchanged on the week, as the pair closed just under the 1.32 line. There are six events this week, highlighted by GDP ...

Read more ...



USD/CAD Halts Weakness, Risk Turns To 1.3352 Level - Investing.com
http://news.google.com Sun, 30 Aug 2015 07:04:03 GMT
USD/CAD Halts Weakness, Risk Turns To 1.3352 LevelInvesting.comUSD/CAD: With USD/CAD seen halting its corrective weakness and turning higher during Friday trading session, risk of more strength is likely. This development leaves the pair targeting it ...

Read more ...


USD/CAD Daily Outlook - Action Forex
http://news.google.com Mon, 31 Aug 2015 03:37:19 GMT
USD/CAD Daily OutlookAction ForexIntraday bias in USD/CAD remains neutral for the moment for some consolidation. Further rise is still expected as long as 1.2951 support holds. Above 1.3353 will target next long term retracement level at 1.3469. Howe ...

Read more ...



USD/CAD Loonie Faces Big Week as Recession Looms - MarketPulse (blog)
http://news.google.com Fri, 28 Aug 2015 20:13:56 GMT
MarketPulse (blog)USD/CAD Loonie Faces Big Week as Recession LoomsMarketPulse (blog)The CAD had a rough week as the Chinese stock market rout grabbed headlines and spread panic around the world. Canada was under attack from two fronts. Lower demand f ...

Read more ...

Here is a Point and Figure Chart (daily)






Good Trading!










Tuesday, August 11, 2015

USDCAD Trading Strategy As At August 11, 2015

The Canadian Dollar pair has again been knocked lower, this time by adjustments to the Yuan and the price of oil.

Here are some opinions as to the price of the Canadian Dollar (USDCAD)




Canadian dollar hit by yuan drop, fresh low for oil - CBC.ca
http://news.google.com Tue, 11 Aug 2015 16:43:00 GMT
CBC.caCanadian dollar hit by yuan drop, fresh low for oilCBC.ca'Fears of a prolonged decline in demand by the world's second largest economy caused oil and other commodity prices to slump, another blow to the Canadian dollar,' Sherry Cooper, chief ec ...

Read more ...



Canadian dollar down more than half a U.S. cent - CP24 Toronto's Breaking News
http://news.google.com Tue, 11 Aug 2015 14:43:09 GMT
The Globe and MailCanadian dollar down more than half a U.S. centCP24 Toronto's Breaking NewsToronto's main stock index and the Canadian dollar were down sharply Tuesday morning as the devaluation of China's yuan sent ripples through the world's fina ...

Read more ...



Oil Price Strain Weighing on Canadian Dollar to GBP, Euro & US Dollar ... - Exchange Rates UK
http://news.google.com Tue, 11 Aug 2015 14:51:50 GMT
Exchange Rates UKOil Price Strain Weighing on Canadian Dollar to GBP, Euro & US Dollar ...Exchange Rates UKOil prices dropped to a fresh 8-month low at the beginning of the week, but the Canadian Dollar still managed to post gains against the Pound. ...

Read more ...



Oil rally sends loonie back to near 77 cents (US) - The Globe and Mail (subscription)
http://news.google.com Mon, 10 Aug 2015 22:20:00 GMT
The Globe and Mail (subscription)Oil rally sends loonie back to near 77 cents (US)The Globe and Mail (subscription)The Canadian dollar closed up on Monday at 76.92 cents (U.S.). Compared to Friday's close it was up 0.71 cents (U.S). There was no majo ...

Read more ...



Loonie steady, US index futures positive ahead of North American open - CTV News
http://news.google.com Mon, 10 Aug 2015 11:12:30 GMT
Loonie steady, US index futures positive ahead of North American openCTV NewsTORONTO - The Canadian dollar was holding steady and U.S. index futures were up ahead of trading on North American stock markets. The loonie traded at 76.18 cents US, up 0.0 ...

Read more ...

Wednesday, January 21, 2015

Bank of Canada Clobbers the Loonie With a Rate Drop

This chart shows the US Dollar rising dramatically against the Canadian Dollar as The Bank of Canada announces a rate drop of 0.75 per cent.





Monday, November 17, 2014

USDCAD Trading Strategy as at November 17, 2014



Any USDCAD Trading Strategy will have to be tempered with the view that this pair is going lower in, at least, the short term.


There have been some fluctuations in price in this pair as the two economies are facing different hurdles.

I have a chart here showing some divergence that probably indicates that the Canadian dollar will be settling lower in days to come.




I have another chart, a Point and Figure chart of the Canadian Dollar which shows a target of .86, also indicating a further drop.




In fundamental news affecting the Canadian Dollar:


  • International Securities Transactions lower than expected.
  • Oil Prices softening
  • Gold prices easing back into a consolidation


On Friday will be released the Canadian Consumer Price Index(CPI) which may influence the Canadian Dollar in a positive way.

My expectation is that the US Dollar will resume its rise against the Canadian Dollar in the short term.










Sunday, November 16, 2014

USDCAD Trading Strategy As At November 16, 2014



Some notes to adjust your trading strategy for the USDCAD pair.

Markets closed a bit lower on Friday,just above support at the March 20th high. A drop in pricecan be expected based on the divergences starting to appear.






The chart shows similar to 'ThreeDrives to a Top' which may be another indication of an easing beingin the cards for the future.





The Canadian Dollar has been supported by some positive data in the past week, the price of oil has rebounded a bit, manufacturing sales rose more than expected, while in the US retail sales rose more than expected.

Rail Transport is much improved since the beginning of the year as shown on this chart, reflecting to a large degree the amount of oil being shipped by rail



Real Estate residential sales remains at a brisk pace in Canada as evidenced by these figures supplied by the Canadian Real Estate Association.





Lastly, from Bloomberg, 'The Thomson Reuters/University of Michigan preliminarysentiment index increased to 89.4, exceeding the highestestimate in a Bloomberg survey and the strongest since July2007, from a final reading of 86.9 in October. The medianprojection called for a gain to 87.5.'


Good Trading..!