Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

The central banks of India, Thailand and New Zealand cut their benchmark interest rates on Wednesday as policy makers start walking the dovish walk. The Bank of Canada (BoC) had some breathing room after the Fed cut by 25 basis points at the end of July, but the increased trade tensions could force the central bank to lower rates sooner rather than later.

CAD traders will continue to navigate uncertain waters on Thursday, awaiting domestic employment data on Friday. Trade war headlines will continue to guide markets as global growth estimates keep falling as the two largest economies duke it out with no agreement in sight.

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1.34.

The projected lower bound is: 1.31.

The projected closing price is: 1.32.

Candlesticks

A white body occurred (because prices closed higher 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 Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 45.8089. This is not an overbought or oversold reading. The last signal was a sell 8 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 56.23. 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 25 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 48. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 23 period(s) ago.

Rex Takasugi – TD Profile

FOREX CAD= closed up 0.001 at 1.323. Volume was 100% below average (consolidating) and Bollinger Bands were 26% wider than normal.

Open     High      Low     Close     Volume___
1.322 1.323 1.322 1.323 139
Technical Outlook 
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: 70,199 71,639 89,789

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.

Summary

FOREX CAD= is currently 0.6% 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 11 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH