Uploaded August 2026 | Updated September 2026, 2 weeks ago
The Canadian dollar has fallen nearly 2.8% from its June high, down five of the last six weeks against the U.S. dollar.
Michael Boutros, Senior Market Analyst at StoneX, reads the Canadian dollar across the weekly, daily and four-hour charts.
The yearly uptrend off the April lows broke last week, and the decline stalled on a cluster of long-term support where the 52-week and 200-day moving averages converge with a retracement of the yearly range. Price has held that zone for four sessions while a weekly opening range takes shape. Federal Reserve minutes, Canadian retail sales and U.S. purchasing managers' data all land before the week closes.
Discover Actionable Insights with the latest Market Outlook Reports: intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share
00:00 - Canadian Dollar Slides Again
00:27 - Yearly Uptrend Finally Breaks
01:19 - Daily Chart Pitchfork Snaps
02:10 - Weekly Opening Range Forms
03:29 - Invalidation Line Gets Drawn
03:55 - Fed Minutes and Canada Data
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#StoneX #MichaelBoutros #Forex #USDCAD
The Canadian dollar has fallen nearly 2.8% from its June high, down five of the last six weeks against the U.S. dollar.
Michael Boutros, Senior Market Analyst at StoneX, reads the Canadian dollar across the weekly, daily and four-hour charts.
The yearly uptrend off the April lows broke last week, and the decline stalled on a cluster of long-term support where the 52-week and 200-day moving averages converge with a retracement of the yearly range. Price has held that zone for four sessions while a weekly opening range takes shape. Federal Reserve minutes, Canadian retail sales and U.S. purchasing managers' data all land before the week closes.
Discover Actionable Insights with the latest Market Outlook Reports: intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share
00:00 - Canadian Dollar Slides Again
00:27 - Yearly Uptrend Finally Breaks
01:19 - Daily Chart Pitchfork Snaps
02:10 - Weekly Opening Range Forms
03:29 - Invalidation Line Gets Drawn
03:55 - Fed Minutes and Canada Data
Like and subscribe for more financial market insights.
#StoneX #MichaelBoutros #Forex #USDCAD
