USDCAD continues to trade higher for 4th consecutive weeks and jumped more than 200 pips. The jump was mainly due to weak crude oil prices and dovish BOC. The spread of the virus might affect global economic growth. Canada is one of the major oil producers and the outbreak of coronavirus will decline the demand for oil. The pair hits an intraday high of 1.31909 and is currently trading around 1.31845.
WTI crude oil plunged sharply and hits 3-month low as to increase death toll to 80, the number of infected people jumped from 18 to 2800. It hits an intraday low of $52.18 and is currently trading around $52.84.
USDCAD is facing strong resistance around 1.31950, any further bullish continuation only beyond that level. Any break up targets 1.31800/1.3238.
On the flip side, near-term support is around 1.3130 and any indicative break under will drag the pair till 1.3070/1.3020/ 1.3000/1.29500.
It is good to buy on dips around 1.3158-60 with SL around 1.3100 for the TP of 1.3300.


FxWirePro: GBP/USD gains some upside momentum but still bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD gains some ground but remains sensitive to Middle East tensions
Ethereum in Consolidation: ETH Trapped in Narrow Range as Bulls Await the USD 2,000 "Buy the Dip" Opportunity
Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound
FxWirePro: USD/CNY dips as China’s yuan strengthens on Iran war de escalation hopes
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/ZAR loses momentum but outlook is bullish
FxWirePro: GBP/NZD uptrend loses momentum but bullish setup remains
FxWirePro: EUR/ NZD loses momentum but outlook is bullish
FxWirePro: GBP/USD recovers but bears are not done yet again
Ethereum Rises on Geopolitical De-escalation: Pezeshkian’s Peace Signal Ignites Bullish Momentum
FxWirePro- Major European Indices
AUDJPY Pullback Intensifies: Resistance at 110.00 Signals Short Opportunity
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
Sterling’s Six-Week Streak Snaps: GBPJPY Slumps Toward 210.00 as Bearish Momentum Intensifies 



