{"id":31616,"date":"2022-07-08T12:50:00","date_gmt":"2022-07-08T11:50:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=31616"},"modified":"2022-07-09T00:01:52","modified_gmt":"2022-07-08T23:01:52","slug":"usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/","title":{"rendered":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high.<\/p>

Crude oil Futures Daily Chart<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The USDCAD gains remain limited as US Oil rebounds from a 3-months low after a massive sell-off this week. Stronger commodity prices will underpin dollar strength while boosting the Canadian dollar, a commodity-backed currency. USWTI crude oil futures<\/a> rose by +0.58% extending its second-day recovery after hitting a 95.15 level last seen on the 12th<\/sup> of April 2022.<\/p>

However, the US Crude Oil inventories released on Thursday increased from -1.04M barrels of oil to 8.235M suggesting a huge slump in demand for crude oil products. This could weaken the Canadian dollar, alongside negative Ivey PMI data released showing slowing production in the coming months as the index falls from 72.0 previous reading to 62.2 on Thursday.<\/p>

Investors should pay attention to the US Jobs data and Canadian employment data due for release later in the New York session. A stronger than expected data for the US could strengthen bulls as it could reinforce further rate hike sentiments by the Fed. FOMC Member Williams will also speak after the US Jobs report.<\/p>

USDCAD Weekly Chart Analysis<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The USDCAD rallied by 0.94% this week despite bulls being trapped inside an inverted bearish flag. Upside gains are capped by the 1.3020, a previous support-turned-resistance. The pair is currently trading at a critical pivot area and a break above that immediate high could see a bullish rally towards the 1.3400 level. The MACD indicator suggests the pair has a bullish outlook as the volume bars reading is trading above the 0.000 neutral level.<\/p>

However, the inverted bearish flag suggests a possible plunge in USDCAD price if the 1.3020 level holds. The 1.3020 level coincides with a 200-day moving average, a tool used as dynamic support and resistance by professional traders. A violation of the 1.2850 level, weekly support could open the way for further downside pressure on the USDCAD pair.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The ActivTrader Sentiment Tool indicates that retail traders maintain a neutral stance ahead of US Jobs data. Investors are cautious as they pay close attention to the US Non-Farm Payrolls for June as a gauge of Fed monetary policy tightening.<\/p>

The Non-Farm Payroll for June is expected to drop to 268K from a previous 390K. The outlook is bearish for the dollar, although a better-than-expected figure could strengthen USDCAD buyers reinforcing Fed\u2019s aggressive monetary tightening cycle.<\/p>

USDCAD Daily Chart Analysis<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The USDCAD<\/a> recovered modestly from the 1.29500 level towards 1.3080, a 19-months high. A break above that near-term target could reinforce bullish strength and the 1.31500 level could be realised in the near term. The bulls need to defend the 1.29500 support to maintain a bullish outlook. The RSI indicator reading bounced off a 50.0 neutral level suggesting more room for upside gains.<\/p>

However, a break below the 3-week low at the 1.28500 level coinciding with the 50-day moving average could invalidate the near-term bullish outlook. Bears will target 1.25200, a 2-months low as a breach of that 1.28500 support could trigger selling pressure.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high. Crude […]<\/p>\n","protected":false},"author":4,"featured_media":31618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[64,42,69,31],"yoast_head":"\nUSDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data\" \/>\n<meta property=\"og:description\" content=\"USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-08T11:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-08T23:01:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/piggybank-1pJSWFdyJ98-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data\" \/>\n<meta name=\"twitter:description\" content=\"USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data\",\"datePublished\":\"2022-07-08T11:50:00+00:00\",\"dateModified\":\"2022-07-08T23:01:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\"},\"wordCount\":562,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"Crude oil\",\"Fed\",\"FOMC\",\"USDCAD\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\",\"url\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\",\"name\":\"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2022-07-08T11:50:00+00:00\",\"dateModified\":\"2022-07-08T23:01:52+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/","og_locale":"en_GB","og_type":"article","og_title":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data","og_description":"USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high.","og_url":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2022-07-08T11:50:00+00:00","article_modified_time":"2022-07-08T23:01:52+00:00","og_image":[{"width":640,"height":360,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/piggybank-1pJSWFdyJ98-unsplash.jpg","type":"image\/jpeg"}],"author":"Nathan Batchelor","twitter_card":"summary_large_image","twitter_title":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data","twitter_description":"USDCAD extended its recovery slightly above the 1.3000 as bulls attempt to retest the 1.3080 level. The bulls rallied by +0.36% early European session after Fed\u2019s Thursday hawkish sentiments. The hawks are pushing for a 75bps rate hike in July in a bid to fight inflation that has soared to 8.6% a 40-year high.","twitter_misc":{"Written by":"Nathan Batchelor","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/"},"author":{"name":"Nathan Batchelor","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab"},"headline":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data","datePublished":"2022-07-08T11:50:00+00:00","dateModified":"2022-07-08T23:01:52+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/"},"wordCount":562,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["Crude oil","Fed","FOMC","USDCAD"],"articleSection":["Forex"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/","url":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/","name":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2022-07-08T11:50:00+00:00","dateModified":"2022-07-08T23:01:52+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/usdcad-technical-analysis-bulls-face-a-19-month-high-ahead-of-us-jobs-data\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"USDCAD Technical Analysis: Bulls face a 19-month high ahead of US jobs data"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab","name":"Nathan Batchelor","description":"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.","url":"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/31616"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=31616"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/31616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/31618"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=31616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=31616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=31616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}