USD/CAD Technical Analysis

We expect a bearish trend with this pair.

Technical Analysis
15. Jan. 2018
USD/CAD Technical Analysis

For seven months we have seen a rise in the prices for petroleum. As of now prices have already reached three-year highs. At the moment the Brent crude oil prices have approached $70 per barrel and the bullish movement is in no hurry to weaken. Against the background of rising oil prices, the Canadian dollar strengthens its positions relative to other currencies.

The US currency, on the contrary, continues to weaken and the dollar index lost 2.1% last week; the EUR/USD moved to a three-year high. The dollar has been falling for the fourth consecutive week and we have not heard any meaningful statements from the Fed members that could influence this movement.

When reviewing our chart, we can observe the completion of the correction and the continuation of the downward movement. Technical indicators indicate a sale: the Stochastic has entered the oversold zone, but we do not see any sings for the reversal of the trend yet.

Today in the United States Martin Luther King Day is celebrated and the stock exchanges are not working, so we expect the continuation of the existing trends.

We advice you to enter short positions with the immediate goals at the resistance levels at 1.2370 and 1.2335.

SuperForex
What to Expect in 2018

Technical Analysis

What to Expect in 2018

A look at what this year might have in store for some of the most popular currencies.

SuperForex
12. Jan. 2018
NZD/JPY: Review and Forecast

Technical Analysis

NZD/JPY: Review and Forecast

A weak news background and a low volatility make the best solution to open the deals on the trend.

SuperForex
12. Jan. 2018
EUR/GBP Technical Analysis & Daily Chart

Technical Analysis

EUR/GBP Technical Analysis & Daily Chart

The pair holds the potential for profit with sell positions.

SuperForex
11. Jan. 2018