Trading up + ( +% ) at . Chart is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management stops.
Canadian Dollar Trends: US Dollar vs Canadian Dollar
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Next, consider the British pound as an example of an indirect quote. GBP 6 = USD represents an indirect quote in Great Britain, since it expresses the amount of foreign currency (USD) per unit of domestic currency (GBP). The direct form of this quote would be USD 6 = GBP or pence.
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The Canadian dollar firmed on Monday to a one-week high against its . counterpart as oil prices rose, while the strength of recent domestic data added to support for the loonie ahead of this week&apos s Bank of Canada decision on interest rates..read more
The Canadian dollar strengthened modestly against the greenback on Thursday, recovering from a nearly six-week low, though it was expected to remain on the ropes in the longer term as monetary policy in Canada and the United States diverge..read more
Trading down - ( -% ) at . Chart confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
Smart Scan Trend Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.. For more information on Trade Triangles, please see MarketClub.
The Canadian dollar weakened on Friday to close its worse week since early March versus its . counterpart, pressured by cooler-than-expected domestic inflation and a slide in prices for oil, one of the country&apos s main exports..read more
Consider an American traveler – let’s call her Ellen – who is visiting Europe and is confronted by the following price for euros at an airport exchange kiosk : EUR 6 = USD / USD . The higher price, . USD is the price that the dealer is asking per euro. Since Ellen wants to buy EUR 5,555, she would have to pay the dealer $7,555.