USDCAD - OIL , U.S ECONOMIC DATA WITH TECHNICAL LEVELS
- This week is also a very important week for USD. That's because the US Federal Reserve has called a meeting this week. It will discuss changes to be made in the coming quarter. Also important are ISM Services PMI, FOMC Member Brainard Speaks, Crude Oil Inventories, FOMC Meeting Minutes, Unemployment Claims, FOMC Member Bullard Speaks DATA and EVENTS.
- DXY is currently at 98.89 LEVEL. USD has been WEAK for the last few days. Also the CAD FEATURE has been UP up to 0.8025 LEVEL. However, CAD is becoming STRONG relative to DXY due to being OIL UP. USDCAD PRICE is moving below DYNAMIC S / R LEVELS.
- Currently the SENTIMENT of the OVERALL MARKET is NEUTRAL. Also the EQUITIES are turning a bit red. VIX is getting a bit UP. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN.
- OIL PRICE is currently slightly UP. It will inevitably affect CAD. But TECHNICALLY USDCAD can go to the BUY a bit sooner in the next few days.
- USDCAD PRICE can go to 1.2415 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2656 LEVEL. The USD may be slightly STRONG in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
- DXY is currently at 98.89 LEVEL. USD has been WEAK for the last few days. Also the CAD FEATURE has been UP up to 0.8025 LEVEL. However, CAD is becoming STRONG relative to DXY due to being OIL UP. USDCAD PRICE is moving below DYNAMIC S / R LEVELS.
- Currently the SENTIMENT of the OVERALL MARKET is NEUTRAL. Also the EQUITIES are turning a bit red. VIX is getting a bit UP. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN.
- OIL PRICE is currently slightly UP. It will inevitably affect CAD. But TECHNICALLY USDCAD can go to the BUY a bit sooner in the next few days.
- USDCAD PRICE can go to 1.2415 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2656 LEVEL. The USD may be slightly STRONG in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.