 Hello and welcome to the chart of the week video with me at David Madden today's date is Friday the 23rd of November 2018 and the time is discount 1202 GMT and this week's chart of the week is the US dollar Canadian dollar the dollar CAD Starting off. We look at a daily chart here, and we are looking at other quite a wide time frame We're looking at it for the last 12 or 14 months and if you look back from September 2007 until now despite the fact that he has some fairly decent swings In the dollar CAD broadly speaking that the market the market has been clearly to the upside that been said We have we have seen the tracements. They have been fairly sizable But the big picture is that the dollar CAD has been pushing higher to the upside for the last about 14 months and if you take a look at the HR and zoom it in a bit And take a look at the price action since early October We can see it's been a fairly steady upward trend like my series of higher highs and higher lows so a classic example of An upward trend and in fact earlier this week the dollar CAD hit its highest level since June So it was actually at a five month high Which actually is a fairly clear sign of how bullish and how strong the market is going if you do continue to push And higher from here the cumulative your target retent Could be looking at targeting the June high of one the spot 33 86 and if you go beyond that But could be looking at it towards the one of 35 area any move to the downside in the dollar CAD may find some support Come into play in around these in this area here in at the both the what the water day at moving average The yellow line here and the blue line here at the fifth of the moving average The water day moving average comes to play in at One spot 30 71 and just below that is the 50 is just below that is the 50 moving average Notice how both lines are back to the bulk of support and resistance in recent months And a metric has actually a fairly decent support and resistance in recent months It makes it the more likely that they'll do so in the future although there are no guarantees And even if you do drop below the 50 50 moving average here the blue line Support may come into play at this red line here at the dirty moving average and the dirty moving average comes into play Just south of one spot 30 one spot 29 89 Because even though we had a fairly fairly size would break below it In early October once we actually managed to regain The the dirty moving average did act as fairly decent support. So it may act as support again in the near term And a break but if you do see a break below the dirty moving average, I could suggest we're heading back I think that could suggest That the the recent upward trend that has been in place since early October has actually come to an end We could be looking at it back down towards 129 or possibly even retesting the October low at one spot 27 82 If you are going to be training the daughter cat Please keep an eye out for the Canadian economic indicators which are coming off today at half one UK time half one GMT That is Canadian retail sales and Canadian inflation I also keep an eye on the oil price the Canadian dollar is up is up and very is up Highly correlated to the price of oil price to the oil market So we've you seen a quite a bit of pressure on an oil in recent weeks and also again today So if you get to see continued pressure on the oil market, we could see continued pressure on the Canadian dollar Just want to say if you have any any comments on this videos or any of the other videos We've made here at CSU markets, please feel free to leave a review on Google reviews. That's all for me this week Thank you very much