Canadian Greenback (CAD) Value, Chart and EvaluationLatest low print stays USD/CAD near-term goal. Oil could re-test latest Fibon
Canadian Greenback (CAD) Value, Chart and Evaluation
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USD/CAD Value Unable to Break Bearish Spell
The Canadian dollar stays agency, boosted by the latest surge in oil costs, and is re-testing a 14-month low towards the US dollar made simply final week. Final week’s break beneath the mid-July low at 1.3016, and the next shut beneath this stage, highlighted the weak point within the pair.
Crude Oil Value Fails to Break Resistance
US Crude oil costs are presently buying and selling in an outlined bullish channel and have simply rejected the 61.8% Fibonacci retracement stage at $63.68/bbl. The chart stays optimistic, buttressed by the latest golden cross formation, though the CCI indicator does present oil in overbought territory.
Oil Price Outlook: Snap Back from Eight-Month Highs, More to Go?
US Crude Oil Each day Value Chart (October 2019 – January 7, 2020)
The sell-off in USD/CAD has accelerated within the final seven weeks, and whereas the chart set-up stays…