Daily Trading Signals by Exness - USD/CAD

[Exness Support]

USDCAD: Consolidation in the 1.2048-1.2203 range

USDCAD
May 11, 2015, 10:31
Sell on a level breakthrough of 1.2048 with 1.1944 target. Stop loss = 1.2100.

Reason for the trading strategy

Reduction of the key interest rate in China to 5.1% has supported the oil prices. In April, China increased its oil imports by 17% (y/y) - to 7.4 million barrels per day. In the short term, WTI oil could once again test the mark of 62.6 dollar per barrel, and the USD/CAD pair could fall to the May low of 1.1944.



USDCAD, H4

 

[Exness Support]

The USDCAD pair is approaching the support level of 1.1944

USDCAD
May 13, 2015, 10:36
Sell on a level breakthrough of 1.1944 with 1.1804 target. Stop loss = 1.2010.

Reason for the trading strategy

The rising prices for WTI crude oil to 61.3 dollars and the reduction of the world's reserve currency paired with the euro are supporting the Loonie. From a technical point of view, the breakthrough of the lower limit of the 1,1944-1,2203 range will serve as a signal for opening short positions in the USD/CAD pair.



USDCAD, H4

 

[Exness Support]

n the short term, the USDCAD pair may fall lower than the 1.244 level.

USDCAD
Mag. 28, 2015, 09:34
Sell on a level breakthrough of 1.2440 with 1.2394 target. Stop loss = 1.2485.

Reason for the trading strategy

Yesterday, the Bank of Canada kept its key interest rate unchanged at 0.75%, as expected. According to the Bank of Canada, the current course of the monetary policy is more than acceptable at the moment. The country's inflation is kept at 0.8%, being closer to the lower boundary of the targeted range of 1-3%. The regulator believes it is connected with the low energy prices. The news is neutral for the Loonie. Today, it is worth paying attention to the publication of Canada's balance of payments for Q1 2015.


USDCAD, H1

 

[Exness Support]

USDCAD: consolidation higher than 1.2424 support level

USDCAD
June 8, 2015, 09:33
Sell on a level breakthrough of 1.2424 with 1.2366 target. Stop loss = 1.2474.

Reason for the trading strategy

Last Friday, strong data on employment in Canada and the United States was published. In May, the Canadian economy created 58.9 thousand jobs with a forecast of 10.2 thousand, and the US economy created 280 thousand jobs with a forecast of 222 thousand. Thus, employment in the North America's economies in Q2 2015 is restored simultaneously. The rising prices for WTI oil from US $56.8 to 58.7 dollars per barrel provides significant support for the Loonie. Today, attention should be paid to Canada's construction sector statistics.



USDCAD, H1

 

[jonb]

USDCAD SHORT

still sell USDCAD

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