USDCAD Live Chart | USDCAD Live Rate | Dollar to Canadian Dollar Chart | IFCM Canada
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USDCAD Live Rate - Dollar to Canadian Dollar Chart

USDCAD Live Chart

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Status: Closed Trading
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USD/CAD Technical Analysis

The USDCAD technical analysis of the price chart on 4-hour timeframe shows USDCAD,H4 is retracing lower toward the 200-period moving average MA(200) after hitting five-and half year high five days ago. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3950. 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 1.40383. 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 growth accelerated in October. Will the USDCAD price retreating persist?

Canadian Consumer Price Index growth accelerated in October more than forecast: Canada’s statistics agency Statistics Canada reported that Canada’s consumer price inflation (CPI) growth rose to 2% over year in October from an over-three-year low of 1.6% in the previous month, when a rise to 1.9% was expected. The sharper increase was mainly attributed to slower decline in gasoline prices which fell 4.0% compared with 10.7% drop in September. Prices for goods rose 0.1% over year in October, following a 1.0% decline in September. In contrast, prices for services decelerated in October while rising 3.6%, the smallest yearly increase since January 2022. Accelerating Canadian inflation is bullish for Canadian dollar and bearish for USDCAD pair.

IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Sell
Parabolic SAR Sell
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News

Canadian Dollar (Loonie) Weakens Despite Oil Price Increase

Canadian Dollar (Loonie) Weakens Despite Oil Price Increase

Loonie decreased slightly against its US dollar on Thursday, decline occurred even though the price of oil, a crucial Canadian...

14/6/2024
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