Chart of price change USD/CAD

Currency pair USDCAD includes two currencies: US dollar and Canadian dollar. This pair is included in the top ten pairs in the Forex market. USD is the most known world currency, which is subject to the comprehensive influence of various factors, keep track of which is not the easiest task. Therefore, it is necessary to use Forex calendar more precisely to predict changes of dollar price. CAD is a commodity currency, which is subjected to a great influence of oil. Therefore, to foresee a change of this currency rate rather simply. Usually, this couple is chosen by traders who trade on the news and have the opportunity to learn how the oil prices change timely.


Economic news


Aussie and Sterling Hit Multi-Year Highs on Recovery Bets
Aussie and Sterling Hit Multi-Year Highs on Recovery Bets

The Australian dollar rose to near a three-year high and the British pound scaled $1.40 for the first time since 2018 on optimism about economic re...

Stocks Up but Retail Favorites Fall; EU CPI, ADP Report
Stocks Up but Retail Favorites Fall; EU CPI, ADP Report

Stock markets resumed their rise as the markets noticed the Democrats’ continued commitment to a larger fiscal package, progress on the vacci...

EUR Gains Before ECB Meeting; Biden stimulus weighs on USD
EUR Gains Before ECB Meeting; Biden stimulus weighs on USD

The euro ticked higher before a meeting of the European Central Bank on Thursday, with the dollar declining versus major peers as plans for a massi...

Currencies Little Changed in “Risk-on” Mood; Bank of Canada
Currencies Little Changed in “Risk-on” Mood; Bank of Canada

We have two central bank meetings and a number of important statistics, but I’m only interested in one thing today:  President Biden&rsq...

Dollar Snaps Out of Three Straight Weeks of Decline
Dollar Snaps Out of Three Straight Weeks of Decline

Pressure was easing on the dollar on Friday, with the currency set to snap out of three straight weeks of losses while sterling still suffered due ...

Oil, CAD up as OPEC+ Compromises; USD Sinks on “Risk-on”
Oil, CAD up as OPEC+ Compromises; USD Sinks on “Risk-on”

Note:  The table above is updated before publication with the latest consensus forecasts. However, the text & charts are prepared ahead of...

Dollar Weak; Swedish Crown Falls after Riksbank QE Expansion
Dollar Weak; Swedish Crown Falls after Riksbank QE Expansion

The euro rose to a nearly three-month high on Thursday as the dollar went on the defensive on downbeat U.S. economic data and optimism about corona...

USD Down, CAD Up in “Risk-on” Rally after Biden Wins
USD Down, CAD Up in “Risk-on” Rally after Biden Wins

Well well well…It looks like it’s over! So far there are no signs of the expected assault via state legislatures. On the contrary, the...

Brokers' Analytics


Forex Technical Analysis & Forecast 22.02.2021

EURUSD, “Euro vs US Dollar”EURUSD completed a wave of growth to 1.2100. The market created a consolidation range around this level and, with an escape upwards, acquired p...

USDCAD Wave Analysis 16 February, 2021

• USDCAD reversed from support level 1.2600

Forex Technical Analysis & Forecast 08.02.2021

EURUSD, “Euro vs US Dollar”After finishing the correction at 1.2050 and testing this level from below, EURUSD is expected to form another consolidation range there. Later...

Forex Technical Analysis & Forecast 05.02.2021

EURUSD, “Euro vs US Dollar”After reaching 1.2000 and then forming another consolidation range there, EURUSD has broken it to the downside; right now, it is still falling ...

Fibonacci Retracements Analysis 04.02.2021 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”As we can see in the H4 chart, after finishing the rising wave, AUDUSD is correcting to the downside and has already transformed t...

Forex Technical Analysis & Forecast 04.02.2021

EURUSD, “Euro vs US Dollar”After expanding the range down and up to 1.2003 and 1.2042 respectively, EURUSD is still consolidating around 1.2025. If later the price breaks...

Murrey Math Lines 03.02.2021 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”As we can see in the H4 chart, USDJPY is moving above the 200-day Moving Average, thus indicating an ascending tendency. However, righ...

Ichimoku Cloud Analysis 03.02.2021 (ETHUSD, USDCAD, EURUSD)

ETHUSD, “Ethereum vs US Dollar”ETHUSD is trading at 1547.48; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indic...

GuruTrade users Blogs


Bank Of Canada Cuts Rate, Loonie Slips

Some experts commented yesterday that if the Bank of Canada were to cut borrowing costs it would follow likely on the back of global incentives due to the virus spread, and less...

Forex as lifestyle. First steps to financial independence

One hears very often such terms as Forex, Forex business, earnings by Forex, he made a fortune by Forex, Forex traders, Forex market or FX-market! If you are one who is eager to find...

Most significant events for financial markets to watch this week – April 23-27

The highest number of financial reports of U.S. companies for the first quarter are due to be published this week. Such tech giants as Facebook, Amazon and Google are going to post...

Key events to watch in financial markets this week – April 16-20

This week, investors will remain cautious amid geopolitical uncertainty and trade tensions - traders will assess the situation in Syria and trade conflict between the U.S. and China.

How To Calculate Cryptocurrency Market Cap?

Many of us have heard about the cryptocurrency market capitalization. Also, many of you probably paid attention to the news headlines from the category "Bitcoin lost 10% of the...

How To Trade Bitcoin? Part 2

Bitcoin trading, taking profits on price changes. Currency symbol: BTC. Due to the exotic character of ...

How To Trade Bitcoin? Part 1

The foreign exchange market is the world’s biggest and most liquid market. And for today, the already intensive forex market expands to yet another direction, offering...

How to use U.S. dollar index in Forex trading?

The U.S. Dollar Index (often marked as DXY or USDX) is widely used in Forex. The U.S. dollar index is an indicator of the U.S. currency's strength.

Using a currency pair USDCAD in trading, it will be useful for a trader to watch the behavior of such trading instruments as EURUSD, GBPUSD and USDJPY. As it is possible to call these trading instruments, indicators of USDCAD pair price movement as their change influences the national currency rate of Canada.

Trading this currency pair, it is worth paying attention to already accurately created levels, which are a reference point for traders when carrying out the analysis. Similar historical levels serve the trader as the good help for determination of points of the opening of an order. It should be noted that active rate movement on this currency pair is reached at the American trading session, it is caused by that Canada and the United States of America live practically on one time and between them are established rather close commercial ties.

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