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USD/CAD Forecast – Outlook & Analysis

US Dollar takes more losses to Canadian dollar

The strong downtrend continues for the eighth consecutive week in a row where price had made a lower low.

USD/CAD Chart

USD/CAD Outlook

Interesting to note that on Friday’s daily chart price closed up and in a bullish engulfing pattern. Too soon to begin looking for long entries but the first sign of a possible counter trend rally has taken place and now traders much watch to see if the downtrend resumes out of this pullback or if today’s price action is a sign of a counter trend move to come.

Trade Analysis / Chart in Focus: USD/CAD The USD/CAD closed up for the third week in a row. The weekly charts are now setup for a short with the 4 hour chart leading the way. USD/CAD Outlook This pair has seen a decent run the past few weeks but beware […]

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Trade Analysis / Chart in Focus: USD/CAD Simply a nice week with a +140 pips gain and closing at the highs for the week. Looks very bullish at first glance but looks can be deceiving at times. USD/CAD Outlook Do not be caught on the wrong side of the market […]

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In this video of today’s market scan for new trade setups we take a look at the current state of the AUD/USD and EUR/USD on the daily, 4 hour, and 1 hour time frame. Related news events for these two pairs including the ECB meeting on Thursday and the RBA […]

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US Dollar takes more losses to Canadian dollar The strong downtrend continues for the eighth consecutive week in a row where price had made a lower low. USD/CAD Outlook Interesting to note that on Friday’s daily chart price closed up and in a bullish engulfing pattern. Too soon to begin looking for long entries but the […]

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The US Dollar counties big gains against the Canadian dollar USD/CAD closed at toward weekly lows making nice sized gains. I am cautious about: Nothing on the radar on this pair. My Outlook: I expect for the USD to continue making gains on the CAD this week. Open positions for USD/CAD (source […]

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After yesterday’s announcement from the ECB proved to be a lack of action US dollar and Japanese strength picked up. Later in the day traders realized they had misread Draghi’s signals to the market. This was confirmed further today when members of Germany’s Angela Merkel’s coalition parties showed they won’t stand in the way of ECB […]

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In today’s scan of the markets we take a look at the currency pairs setting up for the beginning of the coming trading week and review the past setups from this week. What a tremendous move on the eur/usd and the aud/usd this week. Wish I caught the move on […]

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