USD CAD Technical Analysis | USD CAD Trading: 2021-11-22 | IFCM
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USD CAD Technical Analysis - USD CAD Trading: 2021-11-22

USD/CAD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 1.2629

Sell Stop

Above 1.2659

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Sell
Parabolic SAR Sell

USD/CAD Chart Analysis

USD/CAD Chart Analysis

USD/CAD Technical Analysis

The technical analysis of the USDCAD price chart on 1-hour timeframe shows USDCAD: H1 has breached below the support line above the 200-perid moving average MA(200) which is rising still. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.2629. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.2659. After placing the order, the stop loss is to be moved to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - USD/CAD

Canada’s retail sales decline was smaller than forecast in October. Will the USDCAD price continue falling?

Canada’s retail sales decline was smaller than forecast in October: Statistics Canada reported retail sales declined 0.6% over month in October after 1.8% increase in September, when a 1.6% drop was expected. This is bullish for USDCAD.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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