What is USD/CAD?

USD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis.

Is USD/CAD now net-long?

USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Apr 20, 2023 when USD/CAD traded near 1.35. USD/CAD is now lower on the week despite a 10% drop in oil prices USD/CAD Price Analysis: Bears eye a run to 1.3320 as below key H4 structure

Is cadusd a good trading set up?

The Canadian dollar is often nicknamed loonie, for the image of a loon on its one-dollar coins, and is controlled by the Central Bank of Canada. TRADE SETUP_CADUSD Spotted a 5 wave move on CADUSD from NOV 1- NOV 6. The Pair is currently at 61.8% of the 5 wave rise. Looks like a decent trading set up.

Why is CAD considered a commodity currency?

The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.