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Weak energy and metal prices continue to put pressure on the Canadian economy and its currency. Since the beginning of 2011, Canadian dollar has been losing ground against the U.S. dollar (for earlier analysis on USD/CAD). 1.3040 was an important resistance – levels that were seen during the 2008 financial meltdown. In the last quarter […]
U.S. dollar strength is here to stay. Greenback had a strong recovery last week. Strong dollar will continue to put pressure on commodities, commodity currencies and also emerging markets. In other words, weak emerging markets, commodities and strong U.S. Dollar trend is likely to continue in the following months. After its breakout from a decade-long […]
Commodity exporting countries currencies are weak against the U.S. dollar. Especially energy and metal exporters are showing significant weakness. One of those is the Canadian dollar. USD/CAD cross rate is now testing a strong resistance at 1.3040 levels. Breakout above 1.3040 levels can result in a runaway price movement to historical high levels. Though RSI, a […]
Yes, it is a global trend and the dollar is gaining strength against most of the currency pairs. U.S. dollar index is trying to clear its 200 day moving average. Emerging market currencies have depreciated against the U.S. dollar over the past few months and seems like more and more weak signals are being generated by […]
Lately I’ve been focusing more frequently on the currency markets and especially on crossrates against the U.S. dollar. Several developed and emerging market currencies are forming major reversal patterns (inverted Head & Shoulder) that is bullish for the dollar in the short/medium-term. http://techcharts.wordpress.com/2012/01/22/u-s-dollar-index-eurusd/ (January) http://techcharts.wordpress.com/2012/02/11/u-s-dollar-index-eurusd-2/ (February) Inverted H&S pattern is a widely followed technical chart formation and has a very low failure rate. As […]
Here is a valuable analysis that would mainly interest Canadian investors and traders. Throughout the 3 years I’ve spent in Canada I’ve realized how important the crossrate has been for the Canadian economy and its export/import business. Currency advantage (when I started my studies in 2004, 1 U.S. dollar equaled 1.4 Canadian dollar), better education and multicultural society were some of the reasons […]
U.S. dollar gained strength against major currencies in the last quarter of 2011. Will the strong performance of U.S. dollar continue in 2012? USD/CAD chart warns of a possible breakout in the beginning of 2012. 3 month-long symmetrical triangle shows consolidation of the currency pair but suggests a breakout is imminent. Given that the trend prior to […]
