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(<% signals.list.current.percentage|toFixed:2 %>%)
OPEN
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HIGH
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LOW
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USD/CAD NEWS
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USD/CAD Signals
DON'T WANT TO MISS ANY SIGNAL? GO PREMIUM
ACCESS ALL FX, COMMODITIES & CRYPTO SIGNALS. GO PREMIUM
<% signal.status %>
Long Term
Entry Price
PREMIUM ONLY
Stop Loss
<% signal.stopLoss %>
N/A
PREMIUM ONLY
Take Profit
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N/A
PREMIUM ONLY
<% signal.comment %>
Description
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Last Updated: Oct 07, 2024 03:12:31 PM (GMT)
USD/CAD: The current market price is 1.357, reflecting a change of +0.12% from the previous close.Support and Resistance Levels The support levels are at 1.354, 1.352, and 1.350, with resistance levels at 1.360, 1.362, and 1.365. The pivot point is at 1.356.Indicators The RSI shows strong overbought conditions at 72.57, suggesting potential price weakening. The ADX indicates a strong trend at 39.31. ATR is low at 0.00121, signaling low volatility. The Parabolic SAR indicates a bullish trend, closing at 1.35713.Market Sentiment With the market price above the pivot point (1.356) and strong indicators, a bullish scenario is anticipated.
USD/CAD Signals & Technical Analysis
Last Updated: <% indicators.interval.updated|date:'MMM d, y h:mm:ss a' %>
Market Trend
Strong Sell
Sell
Neutral
Buy
Strong Buy
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Market Sentiment
BUY: <% indicators.sentiment.buy.length %>
SELL: <% indicators.sentiment.sell.length %>
NEUTRAL: <% indicators.sentiment.neutral.length %>
Strong Sell
Sell
Neutral
Buy
Strong Buy
Trend Indicators
NAME
VALUE
ACTION
Bollinger Bands
UPPER: <% indicators.data[indicators.interval.active].bbands.value.upper %>
MIDDLE: <% indicators.data[indicators.interval.active].bbands.value.middle %>
LOWER: <% indicators.data[indicators.interval.active].bbands.value.lower %>
Sell
Buy
Parabolic SAR
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Sell
Buy
Standard Deviation
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High Volatility
Low Volatility
Oscillators
NAME
VALUE
ACTION
RSI(14)
<% indicators.data[indicators.interval.active].rsi.value %>
Sell
Buy
MACD(12,26)
<% indicators.data[indicators.interval.active].macd.value %>
Buy
Sell
Neutral
ATR
<% indicators.data[indicators.interval.active].atr.value %>
High Volatility
Low Volatility
STOCH(9,6)
<% indicators.data[indicators.interval.active].stochastics.value %>
Buy
Sell
ADX
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High Volatility
Low Volatility
Moving Averages
PERIOD
SIMPLE
EXPONENTIAL
MA5
<% indicators.data[indicators.interval.active].sma5.value %>
Buy
Sell
<% indicators.data[indicators.interval.active].ema5.value %>
Buy
Sell
MA10
<% indicators.data[indicators.interval.active].sma10.value %>
Buy
Sell
<% indicators.data[indicators.interval.active].ema10.value %>
Buy
Sell
MA20
<% indicators.data[indicators.interval.active].sma20.value %>
Buy
Sell
<% indicators.data[indicators.interval.active].ema20.value %>
Buy
Sell
MA50
<% indicators.data[indicators.interval.active].sma50.value %>
Buy
Sell
<% indicators.data[indicators.interval.active].ema50.value %>
Buy
Sell
MA100
<% indicators.data[indicators.interval.active].sma100.value %>
Buy
Sell
<% indicators.data[indicators.interval.active].ema100.value %>
Buy
Sell
Pivot
PIVOT
CLASSIC
FIBONACCI
CAMARILLA
WOODIE
S3
<% indicators.data[indicators.interval.active].pp.data.result.classic.s3 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.s3 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.s3 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.s3 %>
S2
<% indicators.data[indicators.interval.active].pp.data.result.classic.s2 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.s2 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.s2 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.s2 %>
S1
<% indicators.data[indicators.interval.active].pp.data.result.classic.s1 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.s1 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.s1 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.s1 %>
PP
<% indicators.data[indicators.interval.active].pp.data.result.classic.pp %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.pp %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.pp %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.pp %>
R1
<% indicators.data[indicators.interval.active].pp.data.result.classic.r1 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.r1 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.r1 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.r1 %>
R2
<% indicators.data[indicators.interval.active].pp.data.result.classic.r2 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.r2 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.r2 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.r2 %>
R3
<% indicators.data[indicators.interval.active].pp.data.result.classic.r3 %>
<% indicators.data[indicators.interval.active].pp.data.result.fibonacci.r3 %>
<% indicators.data[indicators.interval.active].pp.data.result.camarilla.r3 %>
<% indicators.data[indicators.interval.active].pp.data.result.woodie.r3 %>
About the USD/CAD (U.S. Dollar/Canadian Dollar)
The USD/CAD pair is the exchange rate between the United States dollar and the Canadian dollar. It’s expressed as the number of Canadian dollars (the quote currency) needed to buy one U.S. dollar (the base currency). It’s nicknamed the “loonie” after the loon bird found on a Canadian dollar.USD/CAD is classified as a commodity pair, as it exhibits a correlation to energy products like crude oil and natural gas, and metals, of which Canada is a large producer. The value of USD/CAD is also strongly tied to the trade relationship between Canada and the U.S, which has had a free trade agreement since 1987.Better than forecast data increases the demand for the related currency and impacts the value of either the Australian dollar or the U.S. Dollar, causing fluctuations in the AUD/USD exchange rate as investors rush in to buy either currency.As the U.S. is the leading export market for Canada by far, accounting for 80% of all Canadian exports, data relating to U.S. consumption and economic health is of particular importance to the pair. High unemployment in the U.S., for example, will indicate that consumption is likely to drop in the near future, and therefore demand for oil will drop.
Breaking Down ‘USD/CAD’
The Canadian dollar is currently the sixth most traded currency in the world, with USD/CAD accounting for over 5% of forex trading volume. The pair is primarily driven by crude oil prices, as the Canadian economy relies heavily on oil production, being the world's fourth largest exporter of crude oil. Canada has vast oil reserves, second only to Saudi Arabia, and is a key oil exporter to the United States, accounting for 56% of all crude oil imports into the U.S. As an estimate, 3.8m barrels a day cross the border.The price of crude oil acts as a leading indicator for where USD/CAD is likely to head. When oil prices rise, USD/CAD falls because the value of the Canadian dollar appreciates. However, this isn’t the only factor that influences the price. The strength of the respective country's economy and interest rates can also increase demand for either currency.What Determines the USD/CAD Exchange Rate?
There are two main factors that determine the USD/CAD exchange rate: Bank of Canada and U.S. Federal Reserve Monetary Policy: The Bank of Canada and Federal Reserve control the supply of money in the market to keep the economy on track. A dovish policy, also known as expansionary policy, weakens the currency as the monetary supply increases. In contrast, a hawkish monetary policy (contractionary policy) strengthens the currency as central banks increase interest rates, contracting the monetary supply.Oil Prices:
As mentioned, crude oil is a massive part of the Canadian economy. But it’s also vital to the American economy, meaning that rising oil prices are bad for the U.S. economy and good for the Canadian economy.Higher oil prices also mean that Canada earns more for its oil, as American dollars flow out of the U.S. and into Canada, which further increases the value of the Canadian dollar.Other USD/CAD Price Factors
These aren’t the only factors, however. There are others, such as:Economic Events:
Any movement in the U.S. and Canadian economic events determines the exchange rates. Top-of-the-line economic events include:- Gross Domestic Product (GDP)
- Employment data, like Unemployment Rates and Non-Farm Payrolls (U.S. only)
- Industrial Output data
- Consumer Price Index (CPI) and Producer Price Index (PPI)
- Export and International Trade data, particularly in Canada