USD/CAD trades below up-trend

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There was a slight uptick for Canada (dollar) strengthening as we got the building permits data. Most of the time, people ignore it because it's such a volatile report."
- RBC Capital Markets (based on Reuters)

Pair's Outlook

Despite USD/CAD falling down to the up-trend support line yesterday, which was supposed to reverse the direction, the currency pair is still not willing to commence a recovery and today has reached out for the weekly and monthly S1 at 1.0342. Another notable support level is as much as 60 pips away from the spot and is formed by the 200-day SMA and the rising trend-line.

Traders' Sentiment
Most of SWFX marketplace participants consider USD/CAD as an unlikely instrument to trade lower, since 70% of them are presently holding long positions. Accordingly, 30% of traders do not see the bearish momentum as fully exhausted and assume the greenback is prone to add to the recent losses.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 10 Sep 2013 13:56:30 GMT

NZD/USD successfully passes monthly R1

A test of the monthly R1 resulted in only a shallow dip (25 pips), as the resistance proved to be incapable of containing NZD/USD for long, even though four out of eight technical indicators on a daily chart are giving ‘sell' signals.

Tue, 10 Sep 2013 13:57:41 GMT

AUD/USD ignores 100-day SMA

Right now it does not seem that the 100-day will be able to prevent the spot price from touching the highs seen in 2009 and 2010.

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.