Canadian Dollar: USD/CAD (CAD=X) economic calendar will be quiet with only the ADP payroll data and foreign securities purchases
Canadian economic calendar will be quiet with only the ADP payroll data and foreign securities purchases on Thursday and Friday respectively. US inflation and the ongoing saga of trade headlines will guide the market as the prolonged trade dispute between China and the United States has put the loonie under pressure with
OIL – Oil Rises on Friday on Softer Dollar and Saudi Cut Expectations
Oil prices rose on Friday despite a lower demand growth forecast by the IEA as a drawdown in European inventories, a softer dollar and expectations of the OPEC making a move to stabilize crude pricing. Despite the rebound, energy prices have been under pressure all week and set for a weekly loss.
Oil continues to be sensitive to trade war rhetoric. A surprise buildup in the United States added extra pressure to crude prices. Saudi Arabia is willing to do more to prevent a free fall, but hard to imagine what that would look like. The prolonged trade war has been a negative factor for global growth estimates.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.33.
The projected lower bound is: 1.31.
The projected closing price is: 1.32.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 27.0376. This is not an overbought or oversold reading. The last signal was a sell 9 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 54.16. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 26 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 22. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 24 period(s) ago.
Rex Takasugi – TD Profile
FOREX CAD= closed down -0.001 at 1.321. Volume was 100% below average (consolidating) and Bollinger Bands were 20% wider than normal.
Open High Low Close Volume___
1.322 1.322 1.321 1.321 179
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.32 1.32 1.33
Volatility: 5 6 7
Volume: 74,302 71,603 89,810
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX CAD= is currently 0.7% below its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of CAD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CAD= and have had this outlook for the last 12 periods.