|Day's range||1.304 - 1.312|
|52-week range||1.2062 - 1.3792|
The dollar fell against a basket of major currencies weighed by a sharp rise in sterling as the UK and EU reportedly reached an agreement on a post-Brexit transition period and the Irish Border. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.38% to 89.46. Ahead of the Federal Reserve Open Market Committee (FOMC) meeting, the dollar struggled to advance despite expectations FOMC members on Wednesday will vote to raise rates for the first time this year and could add a fourth rate hike projection to the current projections three rate hikes expected this year amid a hawkish tweak in the FOMC language in January.
The US dollar finally broke above the Canadian dollar during the trading week, clearing the 1.30 level. This is an area that has been important more than once in the past, but I do see a lot of noise above, so it could be very noisy.
Investing.com – The dollar rose against a basket of major currencies as traders cheered mostly positive economic data and easing political turmoil in Washington.
Investing.com – The dollar rose against a basket of major currencies Thursday as investors mulled over upbeat labor market and mixed regional manufacturing data while easing global trade war fears lifted sentiment.
With its another bounce towards the 1.3000–1.3010 horizontal-region, the USDCAD seem capable enough to surpass the same during this time and may even rise to 61.8% FE level of 1.3040. In case if the pair again fails to clear the 1.3010, the 1.2920 and an upward slanting trend-line, at 1.2865, can entertain counter-trend traders. Alike USDCAD, the EURCAD is also near to short-term important resistance-line, it’s a week-long descending TL figure of 1.6050 in this case, breaking which the pair can rally to the 1.6120 and then to the 61.8% FE level of 1.6215.
The USD/CAD has formed inverted head and shoulder bullish pattern. The right shoulder has been formed, however the price could still retrace down before a possible bounce. At this point the price might go straight up (from 1.2943) or retrace exactly to POC then bounce. 1.2895-1.2915 is the POC zone so pay attention to it. Targets are 1.2990 – confluence of W H5 and M H3 camarilla pivots. This is a strong resistance zone and the pair needs a 4h close above 1.3000 to proceed further up. In that case, it could even target M H4 in upcoming days. As long as the pair is holding above 1. ...
The US dollar was choppy against the Canadian dollar during Wednesday trading, reaching down towards the 1.29 level. It appears that the 1.3 level is going to continue to be very resistive, and therefore I think a pullback is imminent.
Investing.com – The dollar was roughly unchanged against a basket of major currencies as upbeat U.S. wholesale inflation was offset by a fall in retail sales for the third-straight month.
Investing.com – The dollar fell against a basket of major currencies Tuesday as timid U.S. inflation dented investor expectations for a faster pace of rate hikes while U.S. political uncertainty weighed on sentiment.
Investing.com – The dollar fell against a basket of major currencies Monday amid fears over the prospect of trade war after President Donald Trump implemented tariffs on steel and aluminium imports.
The US dollar rallied against the Canadian dollar initially during the week but ran into a lot of trouble at the 1.30 level above, an area that has been important more than once. By rolling back over, we ended up forming a shooting star which of course is a negative sign. That could have sellers jumping back into this market.
Investing.com – The dollar fell against a basket of major currencies as data showing the U.S. economy created more than 300,000 jobs in February were offset somewhat by weaker-than-expected wage growth, denting expectations for a faster pace of inflation and rate hikes.
Investing.com – The dollar rose against a basket of major currencies despite the prospect of global trade war as President Trump is expected to follow through with plans to impose tariffs on steel and aluminium imports.
Following its failure to extend the 1.2915-20 region-break beyond 1.3000–1.3010, the USDCAD has been struggling between the 1.3010 and the 1.2860. However, overbought RSI and expected recovery of the CAD might drag the pair back to 1.2840 and then to the 1.2800 if the 1.2860 is conquered. During the pair’s additional downturn below 1.2800, the 1.2755, an upward slanting TL figure of 1.2700 and the 200-day SMA level of 1.2680 could gain sellers’ attention. Should the pair manage to close beyond 1.3010, the 1.3045 and the 1. ...
11k USD is becoming a nemesis for Bitcoin. Recent developments around this crypto pushed the price even lower, below the support on 10k USD – strong psychological barrier. With that breakout, we have high chances to see the 8,7k USD soon. As long as we stay below the 11k USD we don’t have any buy signal whatsoever.
Investing.com - The dollar stabilized against the other major currencies on Thursday as concerns over prospects for a global trade war eased, while the euro was little changed as markets awaited a European Central Bank meeting later in the day.