Please disable Ad Blocker before you can visit the website !!!


by SignalFactory   ·  May 4, 2020 | 07:35:38 UTC  


by SignalFactory   ·  May 4, 2020 | 07:35:38 UTC  

West Texas Intermediate had returned to nearly $20 by the close on Friday but could not break above that level which, before mid-April, had marked an 18-year bottom in the commodity.  For the Canadian economy, the prospect of low energy prices for a prolonged period of weak demand while the global economy recovers from the pandemic is a daunting one for its domestic employment and export earnings.

Canadian gross domestic product was flat in February down from 0.2% in January. The industrial product price index which tracks major commodity prices fell 0.9% in March and though it was just over half the -1.7% forecast it was the third negative month in a row. The raw materials price index which measures the price paid by Canadian manufacturers was down 15.6% in March also its third straight decline. Markit’s manufacturing PMI for April came in at 33, far below the 41.6 scores in March.

In the gradual retreat of the risk aversion trade last week, the US dollar lost to all the majors (euro, sterling, yen, Aussie, and loonie) but the shift versus the Canadian was minimal opening the week at 1.4103 and closing at 1.4089.

The run higher on Thursday and Friday higher was the product of two technical breaks. First was the move through the downtrend line on the hourly charts that extended back to April 21. This brought the USD/CAD to resistance at 1.4040 where it lingered until just before the London close.


ENTER AT: 0.682000

T.P: 0.685000

S.L: 0.66200

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user. This website and all information is intended for educational purposes only and does not give financial advice. Signal Factory is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Factory does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Factory is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Factory or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use. Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered. While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all. All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way. The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions. Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company. Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results. Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Signal Factory is now on Telegram

make sure to join our Telegram channel now and you will not miss any update