Category: Canadian $
The analysis published under this category are as follows.
Friday, April 05, 2019
Canadian Dollar May Be Setting Up For An Upside Breakout / Currencies / Canadian $
By: Chris_Vermeulen
Our researchers, at Technical Traders Ltd., believe a current pennant/flag formation in the Canadian Dollar is suggesting an upside breakout move may be setting up over the next 5~7+ days. Recently, the Canadian Dollar has weakened from 0.76875 to lows near 0.74375. Current price rotation is almost perfectly aligned with Fibonacci Price theory suggesting that the recent failure to establish any new lower price level (highlighted on this chart in MAGENTA), suggests a tightening price range as the current pennant/flag formation completes over the next 5~7+ days. It is our belief that as long as the current price level stays above the 0.74375 level throughout the completed pennant apex, an upside price break is very likely.
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Friday, August 31, 2018
Market Participants Betting on Nafta Deal between US and Canada / Currencies / Canadian $
By: ElliottWave-Forecast
The Canadian Dollar strengthened to a two month high against US Dollar earlier this week. Market participants seem to bet on possible inclusion of Canada in a new Nafta pact. The U.S. has just concluded a successful bilateral talk with Mexico on Monday. Under the new agreement, cars need to have 75% of their content originate in the U.S and Mexico. The current Nafta requires 62.5% originate within North America. Under the new deal, 40-45% of auto content need to be made by workers who make more than $16 per hour, favoring the U.S. and Canada.
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Thursday, August 16, 2018
EURCAD Remains Bearish / Currencies / Canadian $
By: FXOpen
The daily chart of EUR/CAD remains in a downtrend below the 1.5000 pivot level.
Key Points
- EUR/CAD declined heavily and broke key supports near 1.5080, 1.5000 and 1.4920.
- There are two bearish trend lines in place with resistance at 1.5000 and 1.5150 on the daily chart.
Thursday, August 16, 2018
USD/CAD Approaching Crucial Break / Currencies / Canadian $
By: FXOpen
The daily chart of USD/CAD indicates a decent uptrend above 1.3000.
Key Points
- The US Dollar is in a major uptrend with a crucial support at 1.3000 against the Canadian Dollar.
- A significant contracting triangle is formed with resistance at 1.3150 on the daily chart of USD/CAD.
Wednesday, March 14, 2018
Canadian Dollar Relief Rally After Trump Steel Trade Tariff Exemption / Currencies / Canadian $
By: ElliottWave-Forecast
By EWFHendra : Canadian Dollar had a relief rally last week after the U.S. excluded Canada and Mexico from steel and aluminum tariffs. President Trump’s administration enacted these tariffs under section 232 Trade Expansion Act of 1982 on the ground of national security. President Trump said that the importation of steel and aluminum was “in such quantities and under such circumstances as to threaten to impair the national security of the United States.”
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Tuesday, December 05, 2017
The Loonie Takes Flight -- BUT a "Labor Miracle" is NOT the Reason Why / Currencies / Canadian $
By: EWI
One day before the jobs numbers went viral, Elliott wave analysis already called for a USDCAD decline
Friday December 1 was a lucky break for loonie bulls. That day, the government agency Statistics Canada revealed the nation's economy added 79,500 new jobs in November, "blowing past" the 10,000 that economists expected. As one major news source described it:
"Canadian dollar posted its biggest gain in nearly three months against its U.S. counterpart on Friday after a stronger-than-expected domestic jobs data fueled expectations for further Bank of Canada interest rate hikes early next year..."
"The labor miracle in Canada continues." (Dec. 1 Reuters)
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Friday, October 06, 2017
USDCAD Remains In Downtrend From 1.3793 / Currencies / Canadian $
By: Franco_Shao
USDCAD recently broke above the resistance trend line of the price channel on the daily chart, suggesting that lengthier consolidation for the downtrend from 1.3793 is needed. Range trading between 1.2061 and 1.2778 would likely be seen over the next several weeks.
Monday, September 04, 2017
USDCAD Is Facing Major Support Trend Line / Currencies / Canadian $
By: Franco_Shao
After a sideways movement in a trading range between 1.2413 and 1.2778, USDCAD broke below 1.2413 previous low support and extended its downside movement from 1.3793 to as low as 1.2339.
Thursday, August 17, 2017
USDCAD Broke Above Bearish Trend Line / Currencies / Canadian $
By: Franco_Shao
After breaking below the May 2016 low of 1.2460 support, USDCAD rebounded strongly from 1.2413 and moved above the bearish trend line on its daily chart. However, the bounce from 1.2413 would possibly be consolidation of the downtrend from 1.3793, another fall towards 1.1500 is still possible after the consolidation.
Monday, August 07, 2017
Canadian Dollar Bullish Trend Reversal Triggered / Currencies / Canadian $
By: MarketsToday
Last week the USD/CAD currency pair triggered a bullish trend reversal as it rose above the prior week’s high and closed above it on a weekly basis. That’s the first time in 13 weeks that the pair closed above the prior week’s high. At the same time the 14-period Relative Strength Index (RSI) turned up from its most oversold position since October 2007 and crossed above the 30 line. Further, a double bottom breakout was triggered on the 4-hour chart (see below). This bullish price behavior follows support hit two weeks ago at 1.2412. That’s within the area of support from early-May 2016.
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Wednesday, August 02, 2017
USDCAD Broke Below 1.2460 Support / Currencies / Canadian $
By: Franco_Shao
USDCAD recently broke below an important support level at the May 2016 low of 1.2460 and reached as low as 1.2413, confirming that the long term downtrend from the January 2016 high of 1.4689 had resumed.
Tuesday, July 18, 2017
USDCAD Facing Important Support At 1.2460 / Currencies / Canadian $
By: Franco_Shao
The USDCAD pair recently broke below the channel support and 1.2968 key support on its weekly chart, indicating that the long term bearish movement from the January 2016 high of 1.4689 has resumed. The pair extended its bearish movement to as low as 1.2627, facing an important support level at the May 2016 low of 1.2460.
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Wednesday, July 05, 2017
USDCAD Broke below 1.2968 Key Support / Currencies / Canadian $
By: Franco_Shao
USDCAD’s bearish movement from the May 5 high of 1.3793 extended to as low as 1.2912, breaking below the January 31 low of 1.2968 key support, indicating that the long term bearish movement from the January 2016 high of 1.4689 has resumed.
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Tuesday, June 13, 2017
USDCAD Broke below Channel Support / Currencies / Canadian $
By: Franco_Shao
USDCAD broke below the bottom trend line at 1.3435 of the price channel on its daily chart, suggesting that the uptrend started from the January 31 low of 1.2968 had completed at the May 5 high of 1.3793 already.
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Tuesday, May 30, 2017
USDCAD Is Facing Channel Support / Currencies / Canadian $
By: Franco_Shao
USDCAD has reached the bottom trend line of the ascending price channel on its daily chart which acts as support for the upside movement. As long as the price is above the bottom trend line, the pair remains in bullish structure and the fall from May 5 high of 1.3793 could be treated as correction of the uptrend from January 31 low of 1.2968, another rise towards 1.4000 could be expected after the correction. All we should do now is to wait for the breakout to occur.
Wednesday, June 08, 2016
USDCAD Set To Resume Bear Rally / Currencies / Canadian $
By: Austin_Galt
The USDCAD looks just about ready to head back up which will be the next leg of the bear rally that commenced in early May 2016. Let's check out the action using the weekly and daily charts.
Sunday, April 03, 2016
Canadians Switch Out of Canadian Dollars Into U.S. Dollars Now!!... / Currencies / Canadian $
By: Clive_Maund
As a Brit I well understand the deep admiration the Canadians have for their powerful neighbors south of the border, even if it is not always expressed. The good news in this update is that now is the time to "put your money where your mouth is" when it comes to admiring the Yanks, by changing your Canadian dollars immediately into US dollars, the prime reason being that the Canadian looks set to drop after a big rally from mid-January, while the US dollar looks set to surprise by rallying away from the danger zone of the support around 93 on the dollar index.
Friday, February 12, 2016
Canadian Dollar Now Even Less of a Haven from US Dollar Collapse Than Before / Currencies / Canadian $
By: Jeff_Berwick
In 2011, we posted an article entitled “The Canadian Dollar is No Haven from a US Dollar Collapse.” The point of the article was that Canada had almost no gold reserves and the only thing backing the Canadian dollar was the US dollar.
Canadians were quite smug, back then, with the Canadian dollar trading above par with the US dollar and we wanted to remind them that not only would the Canadian dollar not be a haven from a US dollar collapse, but the loonie would collapse before the US dollar, since nothing is backing it but the US dollar and Canada had no gold (amongst many other reasons).
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Monday, December 28, 2015
This Is What Gold Does In A Currency Crisis, Canadian Dollar Edition / Currencies / Canadian $
By: John_Rubino
Along with the currencies of most other commodity-exporting countries, the Canadian dollar has been in near-freefall lately.
Thursday, December 17, 2015
FOMC and Oil Double Whammy - Oh Oh Canadian Dollar! / Currencies / Canadian $
By: Dan_Norcini
FOMC and Oil. That double whammy was too much for the Cando in today's session as the currency broke down into a fresh ELEVEN YEAR LOW. Though it too did manage to bounce off the session lows as the US Dollar experienced a round of selling pressure, the Cando still ended the day lower. Currently in Asian trade, it is trading lower again.
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Wednesday, December 09, 2015
Bank of Canada Announces Negative Interest Rates; Loonie Sinks to 2004 Low / Interest-Rates / Canadian $
By: Mike_Shedlock
The Canadian dollar, affectionately known as the loonie because of a loon on the one dollar coin, has crashed vs. the US dollar.
Sunday, August 16, 2015
The World's Most Hated Major Currency Hits an 11-Year Low / Currencies / Canadian $
By: DailyWealth
Dr. Steve Sjuggerud writes: Crashing oil prices, crashing commodity prices, and a super-strong U.S. dollar – these three have been the trifecta of pain for the Canadian dollar in recent years.
All three of these together have pushed the Canadian dollar to an 11-year low.
In today's essay, I'll show you why the Canadian dollar could bottom out soon and start a solid rally...
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Wednesday, March 04, 2015
Canada’s Central Banks Orders End to ‘Spocking’ Of Canadian Dollar - Defacing Debasing Currencies / Currencies / Canadian $
By: GoldCore
- From “Spocking” in Canada to overtly political imagery in Greece, paper currency is growing in popularity
- Outpouring of affection for Leonard Nimoy has inspired the phenomenon of “Spocking” in Canada
- Greek artist Stefanos alters euro notes to deliver a political message
- Defacing notes is illegal and a criminal offence in the EU, U.S. and most countries
- Disgruntled citizens defaming already debasing currencies … this may catch on …
Sunday, July 13, 2014
US Dollar vs. Canada Dollar : Get ready to catch the next UP-trend move! / Currencies / Canadian $
By: Submissions
Mustafa Hindawi writes: USDCAD bounced back from1.0620 due to bad data releases from Canada and closed last Friday at 1.0736 .
This pair offers a high probability trading setup both fundamentally and technically.
Thursday, June 12, 2014
USD/CAD Seeks Corrective Pullback / Currencies / Canadian $
By: Gregor_Horvat
USDCAD Daily
On USDCAD we are tracking a deep but still corrective price action from start of the year. We are looking at wave 4) that is part of an big impulsive rally from a weekly chart. Usually fourth waves will find a support around 28 or 50% retracement level compared to wave 3) which in our case comes in around 1.0730. As such, we see pair now trading down within final stages of a corrective retracement, so we need to be aware of a bullish reversal, probably at the start of June.
Thursday, February 13, 2014
USDCAD Targets New High Above 1.0700 / Currencies / Canadian $
By: Gregor_Horvat
USDCAD turned south two weeks back from above 1.1200 resistance region where we called end of a wave 3 that is part of an impulsive price action from 1.0170. We know that impulses are five wave pattern, and if we consider that larger trend on this pair is up, then we may suspect that retracement from the highs is probably just another correction within ongoing uptrend. With that said, we labeled a pullback as wave 4 that may send prices up in wave 5 in the next week or two. We expect new high as long as pair trades above 1.0700 invalidation level.
Monday, February 03, 2014
USD/CAD: Corrective Retracement Before Going UP / Currencies / Canadian $
By: Gregor_Horvat
USD/CAD has turned bearish last weeek from around 1.1220 where we see signs of a completed wave (v) of 3 with an ending diagonal formation at the end of extended move that typicaly confirms a bearish reversal. As such, we suspect that pair is now going south or at least sideways in black wave 4.
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Wednesday, January 29, 2014
USDCAD Forex Analysis - Elliott Wave 3 Near Top / Currencies / Canadian $
By: Gregor_Horvat
USDCAD is moving sharply to the upside for the last couple of weeks since pair managed to move above 1.0660 resistance zone, back from 2011. Sharp and big move in short period of time like this one on USDCAD usually occurs in the middle of wave three of an impulsive price action. As such we adjusted the wave count and around now tracking an incomplete five wave recovery, either in wave (C) or (3). In both cases we expect higher levels, up to 1.1600/1.1700 as long as 1.0600 level holds.
Monday, January 27, 2014
Is the Canadian Dollar This Currency Losing Its “Safe” Status? / Currencies / Canadian $
By: DailyGainsLetter
Mohammad Zulfiqar writes: Not too long ago, I wrote about an economic slowdown in the Canadian economy and how it could take the value of the Canadian dollar even lower. (Read “How American Investors Can Profit from the Canadian Economy’s Demise.”) By no surprise, the Canadian dollar (also referred to as the “loonie”) looks to be in a freefall. Take a look at the following chart.
Wednesday, November 20, 2013
USDCAD Forex Analysis – Triangle In Progress / Currencies / Canadian $
By: Gregor_Horvat
USDCAD reversed lower at the end of last week from that trendline connected from July highs, which suggests that rally from 1.0180 was corrective leg. If that is the case then pair could be forming a bigger and complex correction than we firstly thought. We are now observing idea of a triangle with wave E underway back to 1.0300. This will be a final leg in the pattern, so be aware of a bullish period after completed pattern.
Wednesday, September 11, 2013
Elliott Wave Forecast On USD-CAD: Two Scenarios, Both Bullish / Currencies / Canadian $
By: Gregor_Horvat
USD-CAD is in bearish mode since Friday which means that move from 1.0243 was actually made only in three waves, so this rally is now part of a larger complex correction, either a flat or a triangle. For now we will focus on a triangle but need to see an evidence of a low around 1.0300 zone and rally back to 1.0468 to confirm idea of a contracting triangle.
Thursday, August 29, 2013
USD-CAD Price Could Extend Up To 1.0650 / Currencies / Canadian $
By: Gregor_Horvat
On USDCAD we are tracking an impulsive price action from around 1.0280 which is still incomplete as we need five waves to the upside. In fact, in this week we have seen only a three wave set-back from the latest swing high which is a corrective structure, so we think that larger uptrend will resume soon so we labeled current retracement as wave 4, which means that we expect another push higher, into wave 5 that will be targeting 1.0620/1.0650.
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Wednesday, August 07, 2013
USDCAD Is Turning Bullish-Elliott Wave Forecast / Currencies / Canadian $
By: Submissions
Gregor Horvat writes: USDCAD found a support around 1.02560 last week, from where the first reaction appears to be in impulsive fashion through the upper trend-line of a corrective channel. We know that impulses show direction of a trend or change in trend.
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Friday, July 05, 2013
Canadian Dollar Analysis - Potential Emerging Trade / Currencies / Canadian $
By: Michael_Noonan
The volume activity recently caught our eye in the Canadian dollar and prompted a closer
look. Our position is that by following the developing market activity, across a series of
time frames, a story about a potential trade should emerge. What follows are our rough
draft charts, without comments on them, beyond a few initial observations, going from one
time frame to another. All that matters is the conclusion drawn from them.
Trend is always of primary consideration, and the daily seems to be at cross-purposes for positioning in harmony with the trend. Acknowledged and considered.
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Monday, June 17, 2013
A Safe Place for Your Cash... OUTSIDE the U.S. Dollar / Currencies / Canadian $
By: DailyWealth
Dr. Steve Sjuggerud writes: Money flows to where it's treated best... that's one of the surest rules in finance.
And it is key to picking currencies.
Right now, money is treated better in Canada than in just about any other major country on the globe. And with the setup we have today, you could make as much as 27% over the next 12 months.
Wednesday, June 01, 2011
Canadian Dollar is No Haven from a US Dollar Collapse / Currencies / Canadian $
By: Jeff_Berwick
We spend a lot of time here at The Dollar Vigilante chastising Ben Bernanke and the Federal Reserve and preparing our subscribers for a collapse of the US dollar - something which has been paying off very handsomely, with gold and silver at record highs this year - but don't take that to mean that we prefer any other fiat currency. No fiat currency in the western world is any better than the US Dollar. In fact, in every case, they are worse.
Friday, August 13, 2010
USD/CAD Could Still Be Trying to Base / Currencies / Canadian $
By: Seven_Days_Ahead
After an initial recovery attempt in Apr/May, USD/CAD has become consolidative - still with the prospect of forming a base, but still without the necessary bull signals to tilt the scales firmly in the bulls’ favour. Not for the first time interesting support has emerged from a 76.4% level...
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Friday, June 25, 2010
Will USD/CAD Bounce Off 76.4% Support Continue? / Currencies / Canadian $
By: Seven_Days_Ahead
An initial recovery off long term 76.4% support in USD/CAD has been followed by a deep setback, which has just found support from a shorter term 76.4% level. Bulls waiting in the wings now need this to continue, breaching certain resistance points.
Friday, April 30, 2010
USD/CAD Slide Stalls At Long Term 76.4% / Currencies / Canadian $
By: Seven_Days_Ahead
USD/CAD bears have continued to dominate, with recovery attempts soon petering out. A long term 76.4% pullback level has now been reached, with the market pausing here, and we currently await better reaction.
Tuesday, December 15, 2009
U.S. Dollar Hedging Strategy Using Golden Commodity Currencies / Commodities / Canadian $
By: The_Gold_Report
Discovery Investing pioneer Dr. Michael Berry's number-one hedging strategy against the struggling U.S. dollar is to simply own currencies of the commodity countries—of which Canada is his favorite. When Michael grew up in Canada, he recalls its currency— now fondly known as the loonie because of the image of the loon used on the die for the back of the C$1 coin—always being worth more than the U.S. dollar. We'll be revisiting those good ol' days within the next year, he predicts, as the Canadian dollar reaches parity with the greenback and then goes beyond.
Sunday, August 23, 2009
Canadian Government Economic Stimulus Threatens the Loonie / Currencies / Canadian $
By: Money_and_Markets
Bryan Rich writes: caught its cold. And the currency of this key U.S. trading partner has since become a victim of the ebb and flow of global risk appetite.
For instance, last year, when uncertainty was high and money fled to the center of the global economy, the U.S. dollar and the Canadian dollar fell sharply.
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Monday, March 02, 2009
The Canadian Currency Faces Deepening Damage Ahead / Currencies / Canadian $
By: Ashraf_Laidi
While the dollar and the yen continue to prove being the strongest currencies during falling equities, let's focus on the currency with the combination of past sell-off as well as prolonged downside ahead. The latest Canadian GDP report accentuates our recent notes highlighting the case against the Canadian dollar as the country produces deteriorating figures on growth, jobs and industrial production. Q4 GDP fell 3.4% annualized (first decline since 91) from +0.9% on Q3, while 2008 GDP rose 0.5% from 2.7% in 2007. Read full article... Read full article...
Monday, April 14, 2008
Currency Snapshot- Tough Luck for the Canadian Buck… / Currencies / Canadian $
By: Black_Swan
This time last year we were talking about the brilliant run the Canadian dollar was making towards dollar‐parity. Sure enough, in dramatic fashion, the Loonie crossed the $1 mark.
But for much of that historic run, the Canadian dollar traded in a tight negative correlation to the U.S. dollar – the dollar went down as the Loonie went up, or vice versa. It was in August of last year that the correlation began to fall apart. The red vertical line in the following chart marks the spot ...
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Monday, May 28, 2007
What is a “ Canadian Dollar”? / Economics / Canadian $
By: Mike_Hewitt
have a growing concern regarding paper money. That concern is what defines a “dollar”. A dictionary definition describes a dollar as being a basic monetary unit equivalent to 100 cents. Further investigation reveals that a cent is equal to 1/100th of a dollar. This tautology is clearly an unsatisfactory answer.Read full article... Read full article...