Posts Tagged ‘USD/CAD’

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Crude Rising on US Oil Stockpiles Data

Today, Crude Oil trades higher amid the data from the Energy Information Administration. The report showed that shale oil inventories decreased by 5,247,000 barrels over the week, while experts expected a reduction of 1,786,000 barrels. Thus, WTI Crude Oil has risen in price to $47.97 per barrel. Analysts forecast that the black gold prices will go up further. Now market participants are more optimistic about […]

USD/CAD: Firm Upside — Forecast — April 28th 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the April 28th session. USD/CAD — Looking at the intraday 30-min chart, the pair experienced a fairly volatile trading session yesterday. However, it has managed to cross above the key 1.36 level. The pair has formed a triangle pattern which we can also say as a bullish continuation pattern. Meanwhile intraday technical indicators are still pointing to upward momentum […]

USD/CAD Takes Roller Coaster Ride

Movement of the USD/CAD pair resembles a roller coaster ride. After a gradual increase of the pair to 1.2640, the price took a nosedive by more than a hundred pips. A sharp surge of the Canadian currency was triggered by the news that US president Donald Trump is not going to abandon the North American Free Trade Agreement, but plan only to reconsider its terms. In addition, the US Department of Energy released an upbeat data on crude oil […]

USD/CAD: Holding Up Well — Forecast — April 24th 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the April 24th session. USD/CAD — Looking at the intraday 30-min chart, we can see that, despite the increased volatility in the forex market this morning, the pair has held up quite well on the upside. The level at 1.3455 continues to be the key support. Intraday technical indicators are not showing increased downward momentum. On the upside, if the pair manages to reach […]

Oil Prices Losing Momentum

Oil prices cannot gain ground despite the weakness of the US dollar. The Brent Crude Benchmark retreated from the levels above $51 per barrel and is hovering near $50.53 per barrel. Oil traders abandoned hope for any improvements in the oversupplied market as all efforts of the OPEC and non-OPEC countries to cut the output are offset by the US companies which ramp up the production. The report on the US oil rig count from Baker […]

USD/CAD: Turning Up — Forecast — March 24th 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the March 24th session. USD/CAD — The USD/CAD pair has turned up. Looking at the intraday 30-min chart, we can see that the pair has located a bottom at 1.3315. Intraday technical indicators are pointing to further upward momentum as we can see that the 20-period Moving Average has crossed above the 50-period Moving Average. Also the RSI indicator […]

USD/CAD Remains Under Pressure — Forecast — March 23rd 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the March 23rd session. USD/CAD — Looking at the intraday 30-min chart, the pair remains under pressure below the strong horizontal resistance at 1.3360. It remains also capped by the declining 50-period Moving Average which is turning down. Further weakness is also expected below the overhead resistance. The first target is set at 1.3285 and the next target at 1.3260, which […]

Crude Slumps Sharply

News about rising shale oil production returned bears to the black gold market. OPEC has finally taken higher hydrocarbon production in the US into account in its report. A steady rise in energy prices led to a revival in shale oil production. As a result, the painstaking work of crude output curb by OPEC members is losing its efficiency. Closing of buy deals on crude futures hinted at failed efforts. The Brent Crude Benchmark […]

USD/CAD: Still Under Pressure — Forecast — March 14th 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the March 14th session. USD/CAD — The pair has not yet recovered from big losses suffered from last Friday. Looking at the intraday 30-min chart, you can see that the pair has failed to post a sustainable rebound and has formed a declining trendline. The intraday technical indicators are pointing to a continued bearish bias. Immediate support is located […]

Oil Prices Fail to Gain Ground

Oil prices are trying to offset the losses. However, the US dollar seems to be stronger. The Brent Crude Benchmark depreciated by almost 2% to the level of $51.85 per barrel. The fall in oil prices was triggered by a report from the Energy Information Administration that indicated another rise in crude oil inventories. Thus, the US storage facilities added 8,209,000 barrels. Shale oil is also trading lower. WTI dipped down […]

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