Hot-Charts
USDCAD Approaches Wedge
by
Feb 24, 2009 15:09
| 1 Comment
USDCAD has increasingly shown its negative... correlation with equities as the Canadian dollar currency is positively related with the risk appetite. Markets may drop following another shocking US number (US confidence at 25 vs expectations of 35). But with markets unlikely to engage in a hard sell-mode before tonights Obama State-of-the-Union speech, we could expect a relatively robust performance in equities and short-lived declines in USDCAD towards 1.2400, followed by 1.2355. TL support is expected to hold and counter the downturn in stochastics, making way for a testing of the 1.2580 by mid week.
More Hot-Charts
-
Bitcoin versus Miners Performance
Apr 9, 2024 16:02 | by Ashraf LaidiAs many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners... -
Gold, Bitcoin, USD Combo
Jun 22, 2023 16:46 | by Ashraf LaidiI mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail. -
تفسير مراحل الذهب
Mar 17, 2023 21:28 | by Ashraf Laidi.
Like if bernanke actually initiate buying of treasury securities.