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#Average usd to cad 2018 free

Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities, and our real-time news feed has intra-day interactions from the DailyFX team. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. ĭailyFX offers a surplus of helpful trading tools, indicators, and resources to help traders.

#Average usd to cad 2018 free

Traders can also stay up with near-term positioning via our popular and free IG Client Sentiment Indicator. Dollar? Our DailyFX Forecasts for Q2 have a section for each major currency, and we also offer a n excess of resources on USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. I created a free guide for you here More For Your Trading:Īre you looking for longer-term analysis on the U.S. Not familiar with Ichimoku? You’re not alone and in luck. From an essential technical analysis perspective, RSI(5) is showing bullish momentum through higher lows alongside price finding support at Ichimoku cloud with the lagging line also breaking higher. Traders with a longer-term bullish view of USD/CAD given the move of US Dollar Index to 4-month highs on the EUR weakness should hold 1.2782, the May 21 pivot low as key support.īullish targets should focus on the March high at C$1.3125. Unfortunately for CAD bulls, news broke late in the week that OPEC and its allies, collectively known as OPEC+ is looking to increase their supply and roll-back production curbs in H2 2018. The Canadian Dollar rate had held up well against the strengthening US Dollar while Crude Oil was rising. USD/CAD looks to be heading higher on a hold above the 50-day moving average (1.2816), and the Ichimoku cloud. USD/CAD Daily Chart: Canadian Dollar Breaks Down (USD/CAD Higher) After ConsolidationĬhart Source: IG Charting Package, IG UK Price Feed.

Support: C$1.2 816 50-Day Moving Average.

Falling Crude Oil May Boost USD/CADĭata source: Bloomberg Key Technical Levels for Canadian Dollar Rate to US Dollar: The move in crude added up to four consecutive days lower and appears to be helping support USD/CAD higher.įrom a broad perspective, JPY strength emerged this week on renewed trade tensions and among the commodity bloc, the Australian Dollar broadly rose after RBA chief, Philip Lowe sided with Xi Jinping in the trade negotiations between US & China. Adding to the picture, OPEC announced that they’re likely to increase production in the second half of 2018, which took the price of highly correlated crude oil lower. The Canadian Dollar was not able to hold up against the broadly strong US Dollar making a favorable cocktail for USD/CAD bulls.

Crude oil hit a wall as OPEC, and its allies are said to increase production while US inventories further swelled by the most since February.

At the same time, the US Dollar is strengthening due to the economic-stability concerns in the EU that are focused on Italian politics.

The Canadian Dollar maintains a strong correlation to WTI crude oil, which has recently pulled back on news that OPEC and its allies are looking to increase oil production.

The Canadian Dollar has been an underperformer when compared to the Australian Dollar and the recent drop for CAD to two-week lows may show there is more pain for CAD bulls and more upside for USD/CAD in the near-term.

The ONE Thing: Technical picture shows a breakout to the upside may be in the works.

Canadian Dollar Rate Forecast Key Takeaways: