- Analytics
- News and Tools
- Market News
- USD/CAD: Break below 1.3650 to inspire a deeper drop – Scotiabank
USD/CAD: Break below 1.3650 to inspire a deeper drop – Scotiabank
USD/CAD’s sharp appreciation through September is showing signs of flattening out. In the view of economists at Scotiabank, the pair needs to break below the 1.3650 mark to sustain further losses.
More choppy range trading in the short run
“Price action is choppy and daily/weekly trend signals are showing some signs of weakening; intraday (1 and 6-hour) DMI oscillator measures have turned decidedly flat. These signals suggest more, choppy range trading in the short run at least.”
“We note that last week’s spike high at 1.3972 was followed by the formation of a bearish key reversal signal (new cycle high, lower close) on the daily chart.”
“USD-bearish price signals are not prompting a significant reaction at this point and the longer run DMIs indicate a lot of residual upside momentum remains in this market. Still, we note the bearish reversal signal came at a sensitive point (near the 1.40 level) and that high has not been challenged again so far.”
“More obvious USD weakness (we think below 1.3650) is needed to inspire a deeper drop at this point.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
