USD to CAD - Daily Candle Chart 12th March

USD to CAD - Daily Candle Chart 12th March

Despite the two daily bearish signals of the past few days the dollar to cad pair managed to struggle higher yesterday and close back above all three moving averages.  However, any thoughts of an upside move should be tempered with extreme caution as until the 1.3000 level is breached in a meaningful way then any trade to the upside will be fraught with risk and likely to fail.  Indeed in this morning’s price action we are seeing the same trends once again with an attempt to move higher subsequently failing and prices moving back.  Therefore, my advice remains the same and that is to wait until the 1.3000 level is penetrated and, if not, to wait for further bearish confirmation in the daily or weekly charts.  The main fundamental news today is in the US is covered in detail in the euro to dollar site or alternatively is available on the latest currency news on video.

In order to help you with your trading I have added several new services to the site. First there is an economic calendar which provides details of all the fundamental news items from around the world, including details of the forecast and previous figures, but if you prefer your news on video, then the latest currency news is the place to go, with updates three times a day. In addition there is a live news feed, and for the latest prices, live currency charts covering over 70 of the world’s most popular traded pairs. Finally if you would like help with choosing your ECN broker, I have provided some guidance and suggestions for you, which I hope you find useful.