USD/CAD is nearing a key resistance level as the U.S. dollar strengthens on hawkish Fed signals and resilient economic data. Meanwhile, the Bank of Canada’s recent rate cut and moderating oil prices add pressure on the Canadian dollar. Traders should watch this divergence closely as it shapes near-term currency trends.
Christopher Svorcik’s Elliott Wave analysis highlights a completed 5-wave bullish run on DXY with potential bearish ABC correction ahead if resistance near 106–107 holds. For SPX, mixed signals emerge as price may be finishing Wave C of an A-B-C correction from 2022 lows, with downside risk below 4200–4300 key support. Traders should watch wave structures closely to gauge trend continuation or reversal.
Elliott Wave Analysis of the S&P 500 (Oct 8, 2025): After completing a five-wave impulse from the 2022 lows, the S&P 500 appears to be entering an A-B-C corrective phase. Wave B may be ending soon, paving the way for a Wave C decline. Traders should watch for confirmation of this correction as markets digest economic uncertainties and geopolitical developments. Insights by EWMinteractive provide a valuable framework to navigate the near-term outlook.
EWMinteractive’s October 8, 2025 Elliott Wave Analysis of the S&P 500 highlights a prolonged double three corrective pattern nearing its final stage. The market appears caught in wave Y, unfolding as an ending diagonal indicating potential further downside before completion. This nuanced view challenges bullish expectations and emphasizes careful monitoring of wave structures amid ongoing uncertainty.
Elliott Wave Analysis of the S&P 500 as of October 8, 2025, suggests the index has likely completed a five-wave impulse from the 2022 lows. The current pullback appears as the beginning of a corrective phase (ABC), influenced by persistent inflation concerns, a cautious Fed, and geopolitical tensions. Traders should watch key support levels and wave structures closely to anticipate whether this correction will be shallow or deepen before the next cyclical upswing.
USD/CAD breaks key resistance at 1.3700, signaling bullish momentum supported by rising US yields, hawkish Fed policy, and strong economic data. Watch next targets near 1.3800 as CAD faces pressure from softer oil prices and mixed domestic indicators. #Forex #USDCAD
Former President Trump signals upcoming trade discussions with Canadian central banker Mark Carney, indicating a potential shift toward collaborative U.S.-Canada economic strategies. This move suggests openness to expert economic perspectives as trade and inflation concerns grow ahead of upcoming elections.
Danske Bank forecasts the EUR/USD rising to 1.23 within 12 months, driven by expected Fed rate cuts, a stabilizing Eurozone economy, and softer U.S. economic data. This signals a stronger euro against the dollar amid shifting monetary policies and improving risks. Stay tuned for what this means for investors and global markets.
ICE canola futures rose again on March 19, supported by strength across global vegetable oils including soybean, palm, and European rapeseed. Positive technical signals and steady speculative interest added momentum, while modest loonie gains did little to slow export demand.
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