canadian dollar short term analysis

Canadian Dollar Remains Vulnerable Despite Short Term Rise

(CEP News) - The Canadian dollar has not been able to find any momentum in what has been a relatively quiet day in currency markets.Although the loonie is showing some gains against the U.S. dollar, the USD/CAD continues to trade above key resistance levels. The USD/CAD is down 0.53 cents to 1.2601 CADTyson Wright, senior FX trader at Custom House, said it appears that 1.25 CAD is going to act as the new support level and that it could take

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Deltastock Daily Fx Analysis

February 27, 2009Current level - 97.61A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29.With yesterday's peak at 98.70 the pair has completed the uptrend from 92.62, so now the bias is neagtive for 96.31, en route to 94.64.Full Article

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Canadian Dollar Shrugs off Weak Data ¥ for Now

(CEP News) - While the Canadian dollar appears to be shrugging off soft data releases in the short term, there is potential for more weakness as the economy continues to deteriorate and catch up with the global recession.The only data releases in North America on Monday were Canadian manufacturing shipments and international securities transactions. Both reports highlight the grim state of the Canadian economy, but still had little impact on currency markets.Foreign investors reduced their holdings of Canadian securities by

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Canadian Dollar Makes Gains against Greenback as Fed Buys Bonds

The Canadian dollar has made major gains against the U.S. dollar since the Fed announced that it will purchase $300 billion in longer-term Treasury bonds.The move in the Canadian dollar reflects the broad U.S. dollar weakness following the FOMC interest rate announcement. USD/CAD broke below a key support level of 1.2570 CAD and could signal further short-term weakness. The cross is trading in the mid-1.24 CAD level.Although the loonie is higher against the U.S. dollar, it is

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USD/CAD Heading for 1.30 as Risk Aversion Swells, Strategists Say

(CEP News) - The recent fall in the Canadian dollar has many strategists suggesting that USD/CAD could test the 1.30 level in the short-term.USD/CAD was trading up 1.93 cents to 1.2618 as the plunge in stock markets worldwide has ignited a flight-to-quality trade.

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Deltastock Daily Fx Analysis

April 3, 2009Current level - 99.61A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.Our first target at 100.16 was reached yesterday and the pair is in a corrective mode above 99.+, before advancing towards 100.98.Full Article

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Deltastock Daily Fx Analysis

February 27, 2009Current level - 97.61A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29.With yesterday's peak at 98.70 the pair has completed the uptrend from 92.62, so now the bias is neagtive for 96.31, en route to 94.64.Full Article

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Deltastock Daily Fx Analysis

April 1, 2009Current level - 98.79A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.With yesterday's break above 98.98, the road is clear for 100.16, so expect current consolidation to be limited above 97.35 before next leg upwards. Intraday bias is negative for 97.53.Full Article

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Deltastock Daily Fx Analysis

March 19, 2009Current level-1.3504EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721. Recent break above 1.2996 confirmed a short-term bottom at 1.2457 and cleared the way for 1.3328 and 1.3821. Yesterday's extreme volatility peaked at 1.3531 and the overall bias remains positive for next resistance at 1.3821-69 zone. Full Article

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Deltastock Daily Fx Analysis

April 27, 2009Current level - 96.69A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.As expected, the pair broke through the dynamic support at 97.65 and is targeting 95.83 and 93.58. Crucial on the upside is 97.70.Full Article

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