- Analytics
- Technical Analysis
USD CAD Technical Analysis - USD CAD Trading: 2023-12-20
USD/CAD Technical Analysis Summary
Below 1.3328
Sell Stop
Above 1.3617
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
USD/CAD Chart Analysis
USD/CAD Technical Analysis
The USDCAD technical analysis of the price chart on daily timeframe shows USDCAD,Daily is retreating after falling below the 200-day moving average MA(200). RSI is in oversold zone. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3328. 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 1.3617. After placing the order, the stop loss is to be moved to the next fractal high indicator, 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
Canadian Consumer Price Index remained steady in November when a decline was expected. Will the USDCAD price retreating continue?
Canada’s statistics agency reported Consumer Price Index growth in Canada remained at 3.1% on annual basis in November when a decline to 2.8% was forecast. CPI had risen 3.1% in October. The monthly rate of inflation was 0.1 per cent, also the same as data released in October. Lower price growth for food alongside with cellular services and fuel oil offset upward pressures. Higher than expected Canadian inflation is bullish for Canadian dollar and bearish for USDCAD pair.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account 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.