Trade the Canadian Dollar: USD/CAD (CAD=X) Within 60 Days of Account Opening to Earn a Bonus Based on Your Deposit Amount

Trade the Canadian Dollar: USD/CAD (CAD=X) Within 60 Days of Account Opening to Earn a Bonus Based on Your Deposit Amount

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Canadian Dollar
Ticker: CAD=
Price: 1.3075

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USD/CAD Outlook

USDCAD is now close to its 20, 50 and 100 day averages, located at 1.3157, 1.3199 and 1.3289 respectively, and thus may be at a key juncture along those timeframes.

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USDCAD’s price has gone down 16 them.

USD/CAD Dollar Exchange Rate

Today’s Forex Rates

USD/CAD FX Polls

Economic Events

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 1.32.

The projected upper bound is: 1.32.

The projected lower bound is: 1.29.

The projected closing price is: 1.31.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 49.3750. This is not an overbought or oversold reading. The last signal was a buy 2 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 42.71. 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 52 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 -61. This is not a topping or bottoming area. The last signal was a buy 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 sell 5 period(s) ago.

Rex Takasugi – TD Profile

FOREX CAD= closed up 0.001 at 1.308. Volume was 79% below average (consolidating) and Bollinger Bands were 16% wider than normal.

Open    High    Low    Close    Volume
1.306   1.308   1.305  1.308    18,829
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period     50-period     200-period
Close:           1.31          1.32          1.35
Volatility:      7             8             11
Volume:          100,400       91,058        95,497

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 3.4% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of CAD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on CAD= and have had this outlook for the last 22 periods.

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