Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

69.21% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

CAD Might Weaken As Oil Market Plunges

CAD Might Weaken As Oil Market Plunges

Information is not investment advice

Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system. As a result, March futures on the S&P/TSX index were up 0.4% earlier, while crude oil prices gained more than 1%. We need to however evaluate the possibility of a sustained increase or a return to the bearish movement.

USDCAD 

USDCADDaily-2803.png

The Daily timeframe of USDCAD is currently showing signs of bullish strength. The Moving Averages are positioned in a way that indicates a bullish trend, with the 50-Day MA within reach as an area of support. To further strengthen the bullish sentiment, we also have the Fibonacci retracement levels, the drop-base-rally demand zone, and the break of the previous high at the 1.36700 area.

Analysts Expectations: 

Direction: Bullish

Target: 1.39300

Invalidation: 1.35600

NZDCAD 

NZDCADDaily-2803.png

NZDCAD is currently trading inside a descending channel and has recently been rejected from the resistance trendline of the channel. The 50 and 100-day MAs are the only things that stand between where price is at the moment, and where I expect it to go in a few days. Once price breaks through the support trendline, and the 100-Day MA, it would sail very quickly toward the 200-Day MA.

Analysts Expectations: 

Direction: Bearish

Target: 0.83000

Invalidation: 0.85800

CADJPY 

CADJPYH4-2803.png

CADJPY has made an initial reaction away from the pivot zone marked by the rectangle. It also seems to have filled the volatility gap from the opening of the new week yesterday. Based on the 76% of the Fibonacci retracement, the trendline resistance, and the Moving Averages, it is safe to expect a bearish reaction from the markets.

Analysts’ Expectations: 

Direction: Bearish

Target: 94.400

Invalidation: 97.300

AUDCAD 

AUDCADH4-2803.png

After breaking below the trendline support of the ascending channel, price can be currently considered as making a bullish retracement into the Bearish Order block (supply zone) in order to find the required liquidity and momentum to push lower.

Analysts’ Expectations: 

Direction: Bearish

Target: 0.90600

Invalidation: 0.91505

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

LOG IN

Legal disclaimer: The content of this material is a marketing communication, and not independent investment advice or research. The material is provided as general market information and/or market commentary. Nothing in this material is or should be considered to be legal, financial, investment or other advice on which reliance should be placed. No opinion included in the material constitutes a recommendation by Tradestone Ltd or the author that any particular investment security, transaction or investment strategy is suitable for any specific person. All information is indicative and subject to change without notice and may be out of date at any given time. Neither Tradestone Ltd nor the author of this material shall be responsible for any loss you may incur, either directly or indirectly, arising from any investment based on any information contained herein. You should always seek independent advice suitable to your needs.

Similar

Popular

How Will BoJ Meeting Affect the Yen

Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus

Choose your payment system

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later