Maraming gustong mag Trade ng Forex dito sa Pilipinas, yun nga lang kulang po tayo sa kaalaman kung paano ito gawin. Kung kaya sinikap ko talaga gumawa ng paraan na matutunan ko ito sa abot ng aking makakaya. Marami po kasing mga Training na available online kagaya ng Youtube at syempre mga educational websites na nagbibigay ng libreng information. Ang problema medyo out of this world ang Forex Trading sa akin kasi unang-una, hindi naman ako graduate ng Financial Management or related course kagaya ng economics para at least may background man lang.
Madalas ko po sinasabi na hindi ako isang expert sa Forex Trading subalit sinisikap ko itong aralin dahil nakikita ko na isa itong source of income na pwede kung pag-aralan at maging profitable.
Dahil naka subscribe tayo sa FXStreet, from time to time ako po ay nakakatanggap ng notification mula sa kanila. So habang on-going yung Livestream ko, biglang naglabas ng BUY signal ang FXStreet na mag BUY daw sa USD/CAD. Pwede nyo po panoorin ang live stream video natin, just browse down para sa link.
Why is the USD/CAD an important market?
The currency pairing of the US to Candian dollar (USD/CAD) is one of the most traded pairs in the foreign exchange market, representing a significant quota of daily trade. It’s a pair which is popular amongst veteran traders and newcomers alike.
Key points that affects USD/CAD price action:
👉 WTI weakness, US dollar recovery and downbeat risk catalysts propel the quote.
👉 The second-tier US and Canadian data could offer intermediate directions.
👉 Virus updates, geopolitical news can keep the driver’s seat.
USD/CAD: break of 1.3485 will drive the pair towards 1.3331 – Credit Suisse
FX analysts at Credit Suisse see the pair likely to break the current consolidation phase lower, and point out to key support at 1.3485, “USD/CAD is slowly grinding lower, in line with the large bearish ‘descending triangle’ continuation pattern that is still in place. We expect this path to continue and see scope for further weakness, with support initially at 1.3505, then 1.3482/75. Removal of here would see the small base negated and a fresh attempt at 1.3398, then 1.3365/57, ahead of the ‘neckline’.”
Commodity currencies, like the Canadian Dollar, have recently been pressured amid a surge in the pessimism concerning the coronavirus’ (COVID-19) fresh wave. Apart from the most highlighted situations in Beijing, pandemic data from the US, Japan and Germany also suggest that the world is yet to overcome the deadly virus and its negative economic impacts.
While the virus woes weigh on the risk-tone sentiment and drag the USD/CAD pair, it also negatively affects the prices of Canada’s main export, crude oil. The WTI benchmark also portrays two-day losses while declining to $37.70, down 0.75% on a day, as we write.
Other than the pandemic fears, geopolitical tension in Asia and also concerning Iran weigh the market’s mood.
USD/CAD is the abbreviation for the U.S. dollar versus Canadian dollar (USD/CAD) currency pair. The quote given for the USD/CAD currency pair tells the reader how many Canadian dollars (the quote currency) are needed to purchase one U.S. dollar (the base currency).