RSS USD to CAD Forex Chart Analysis

  • USD CAD Forex Market Analysis 26 Aug 2010 September 3, 2010
    The usd to cad is at an interesting point once again apparently having run into resistance at the 1.0677 price level once again with yesterday’s shooting star candle clearly indicating short term weakness in the recent rally. This candle should be read in conjunction with that of Wednesday where, once again, we saw the forex […]

RSS Bank of Canada Noon Rate

  • CA: 0.9506 USD = 1 CAD 2010-09-02 Bank of Canada noon rate September 3, 2010
    1 Canadian Dollar = 0.9506 USD (USD = U.S. dollar). These are the Bank of Canada's nominal noon exchange rates, published at about 12:15 ET each business day. These are neither buying nor selling rates, and should be used for reference purposes only. […]

Archive for February 2009

USD/CAD – Daily Candle Chart 27th February 2009

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Friday, February 27th, 2009
USD to CAD Daily Candle Chart - 27th February 2009

USD to CAD Daily Candle Chart - 27th February 2009

There seems to be no let up in the sideways movement of the usd to cad pair, and my advice is the same as for the euro dollar and pound dollar pair, which is simply to stay out until we see a clear trading signal. The only way to trade this currency pair at the moment is to use an options strategy, or alternatively one using fixed odds, either of which are perfectly valid. The simple buy or sell trade will just not work, as your stop loss positions will be triggered in the whipsaw price action, with no clear trading trend.

The main fundamental news today is in the US with the release of the Preliminary GDP data which I have explained in detail on the euro to dollar site. Whilst there are some figures due out shortly for Canada, I do not expect these to have a major impact on the market today.

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USD To CAD – Daily Candle Chart 25th February 2009

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Wednesday, February 25th, 2009
USD to CAD - 25th February 2009 Daily Candle Chart

USD to CAD - 25th February 2009 Daily Candle Chart

You must be getting fed up looking at this chart, and I am getting fed up writing about it! The pennant pattern continues to form with no sign of a breakout one way or the other, so we have to wait and be patient! It will break at some point and then we just have to be ready. As I have said several times before the ONLY way to trade this at the moment is with a straddle strategy and options, but if you do, please make sure you are looking three months out at least ( not one month) as the time wasting element of the option will destroy your position very quickly. The main news again today is from Bernanke’s speech in the afternoon.

The short, medium and long term are all sideways!

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USD to CAD – Daily Candle Chart 24th February 2009

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Tuesday, February 24th, 2009
USD/CAD - Daily Candle Chart 24th February 2009

USD/CAD - Daily Candle Chart 24th February 2009

I haven’t posted about the usd to cad for a couple of days, as there is very little to say. There was little surprise when the wide spread up candle of a few days failed to materialise into anything and we are now back in the same old pennant pattern of the last few months. My advice still stands, and that is simply to wait and see – there are plenty of other currency pairs trending very nicely at the moment with money to be made, so why try and gamble with this one! I have added in the pennant lines just so that you can see how it is moving at the moment. The main fundamental news out today is in the US, with Fed Chairman Bernanke speaking later and I have covered all this in more detail on the euro to dollar site.

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