Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

toolbar icon

Trading Platform

For mobile devices

For trading via browser

Make a deposit
Money withdrawal
pay icon

The Canadian Dollar has had a roller coaster ride due to oil, after Saudi Arabia comments and leaks from NAFTA negotiations. A lot of confusion arose from the information that as a result of a diplomatic dispute between Canada and Saudi Arabia (Prime Minister Trudeau criticized the arrest of a Saudi activist), Riyad ordered the central bank and the national funds to sell Canadian assets. The amount coming into play is not big and should not have a clear impact on CAD, but the information has become an excuse for the movement fueled by a sell-off of crude oil. However, as the CAD market is unstable, it showed a dynamic retreat to the USD/CAD decline after reports that the US and Mexico have agreed on the trade of cars, which opens the way for further negotiations of the NAFTA agreement. Nevertheless, it does not look like the "Saudi factor" would be sustained for longer, and expectations for NAFTA (and the implications for tightening the BoC policy) in the longer horizon should play a greater role.

Today, the global investor's attention should be focused on another set of Canadain economy data in form of Unemployment Rate, Employment Change, Part-Time Employment Change and Participation Rate.

Let's now take a look at the USD/CAD technical picture at the H4 time frame. The market has tested the 50% Fibo retracement level and hit the technical resistance at the level of 1.3111 before the drop. Currently, the bulls are again trying to rally higher and the same level should be in play. In a case of a breakout higher, the next target for bulls is located at 61% Fibo at 1.3164. On the other hand, the immediate support is seen at the level of 1.3000. Please notice the positive momentum that supports the short-term bullish bias.

Exchange Rates 10.08.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
Instant Trading EU Ltd © 2007-2018
Benefit from analysts’ recommendations right now
Top up trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Trading leveraged products such as forex and CFDs carries a high level of risk and may not be suitable for all investors. There is a possibility to lose all you initial capital. Before trading you should fully understand the true extent of your exposure to the risk of loss and your level of experience.