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.


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
 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 ...

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USD/CAD Halts Weakness, Risk Turns To 1.3352 Level -
 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 ...

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USD/CAD Daily Outlook - Action Forex
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 ...

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USD/CAD Loonie Faces Big Week as Recession Looms - MarketPulse (blog)
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 ...

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Here is a Point and Figure Chart (daily)

Good Trading!

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