• Daily Commodity Coverage: April 7, 2020

    USD/CAD What happened previously? There are more signs showing the crisis may be easing in some areas, sending stocks soaring. Italy, France, Germany and Spain reported lower numbers of new cases. S&P 500 jumped 7% to 2663.68 as of 4 pm in New York, to the highest since March 13.It rose above its 200-week moving […]

  • Daily Commodity Coverage: April 6, 2020

    USD/CAD What happened previously? Nonfarm Payrolls (NFP) in the US declined by 701,000 in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed February’s increase of 275,000 (revised from 273,000) and missed the market expectation of -100,000 by a wide margin. The U.S. stock index closed in […]

  • Daily Commodity Coverage: April 3, 2020

    USD/CAD What happened previously? The USD sideways after the sluggish weekly jobless claims number. Initial jobless claims surged to more 6.6 million last week, the Labor Department said Thursday. That brings the two-week total to about 10 million due to the coronavirus-induced economic shutdown.  USD somehow was not affected that much, while investors take the […]

  • Daily Commodity Coverage: April 2, 2020

    USD/CAD What happened previously? The USD was mixed against its G10 peers as investors awaited key U.S. initial jobless claims data to gauge how virus-related shutdowns are impacting the labour market. According to the ADP job report released on Wednesday, private companies shed 27,000 employees for the period through March 12, while many investors think […]

  • Daily Commodity Coverage: April 1, 2020

    USD/CAD   What happened previously? USDCAD dropped nicely from our previous 1st resistance at 1.43398 and is heading south towards 1st support at 1.40165. USD strength is largely affected by the increasing death toll and confirmed cases in the U.S., but this affect the outlook of CAD more as crude oil see bearish pressure from […]

  • Daily Commodity Coverage: March 31, 2020

    USD/CAD What happened previously? USD liquidity issues are largely improved as Senate passes massive $2 trillion coronavirus spending bill. Equity market see signs of recovery.  USD rebounded and is near previous horizontal overlap resistance level.   What can we expect?  We are seeing price to test 1st resistance at 1.42896 and there’s a oversold Stochastics providing […]

  • March 30, 2020

    USD/CAD What happened previously? USD liquidity issues are largely improved as Senate passes massive $2 trillion coronavirus spending bill.  U.S. stock futures fell on Monday, indicating a lower start as the number of coronavirus cases and deaths continues to rise and investors brace for data in the week. USD may see a bounce as panic […]

  • Daily Commodity Coverage: March 26, 2020

    USD/CAD What happened previously? USDCAD dropped nicely towards 1st support at 1.41528 and bounced from there.  Market is still gauging if the stock market stabilizes after the $2 tn stimulus plan. Panic in the market still exists which could push USD higher.  What can we expect?  We are seeing price to bounce further towards 1st […]

  • Daily Commodity Coverage: March 25, 2020

    USD/CAD What happened previously? USDCAD sideways and rebound from recent sharp drop.  What can we expect?  We are seeing price to  drop further towards 1st support at 1.41528 and  Stochastics is also reaching oversold area, in support of a potential bounce. 1st support level is a confluence level of 78.6% Fibonacci extension, horizontal swing low […]

  • Daily Commodity Coverage: March 24, 2020

    USD/CAD What happened previously? USDCAD spiked up and touched our 1st resistance. Our previous bearish call is still valid. What can we expect?  We are seeing price to reverse from 1st resistance at 1.47155 and there’s a overbought Stochastics providing support too. 1st resistance level is a confluence level of 1.113% Fibonacci extension, horizontal swing […]

  • Daily Commodity Coverage: March 23, 2020

    USD/CAD What happened previously? USDCAD rallied and went past our 1st resistance. Our previous bearish call is still valid. What can we expect?  We are seeing price to reverse from 1st resistance at 1.47155 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 1.113% Fibonacci extension, horizontal swing […]

  • Daily Commodity Coverage: March 20, 2020

    USD/CAD What happened previously? USDCAD rallied and went past our 1st resistance. Our previous bearish call is still valid. What can we expect?  We are seeing price to reverse from 1st resistance at 1.47155 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 1.113% Fibonacci extension, horizontal swing […]

  • Daily Commodity Coverage: March 19, 2020

    USD/CAD What happened previously? USDCAD rallied and went past our 1st resistance.Our previous bearish call is not valid.  What can we expect? We are seeing price to reverse from 1st resistance at 1.47155 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 1.113% Fibonacci extension , horizontal swing […]

  • Daily Commodity Coverage: March 18, 2020

    USD/CAD What happened previously? USDCAD rallied and reached our 1st resistance target. What can we expect? We are seeing price to reverse from 1st resistance at 1.4267 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 78.6% Fibonacci extension and 23.6% Fibonacci retracement.   UKOIL What happened previously? […]

  • Daily Commodity Coverage: March 16, 2020

    USDCAD What happened previously? USDCAD tested out support at 1.3757 and bounced up really nicely from there. That also happens to be a 23.6% Fibonacci retracement and a 61.8% Fibonacci extension. What can we expect? We are seeing price to bounce further from the first 1 support  and there’s a bullish Ichimoku cloud providing support […]