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

USDCAD Live Chart

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Leverage 1:100
Margin 1000
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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 advancing above the 200-period moving average MA(200) which is rising itself. RSI is in overbought zone. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.43285. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.42218. After placing the order, the stop loss is to be moved to the next fractal low 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 slowed in November. Will the USDCAD price advancing persist?

Canada’s statistics agency Statistics Canada reported that Canada’s consumer price inflation (CPI) Consumer Price Index (CPI) rose 1.9% on annual basis in November, down from a 2.0% growth in October. Slower price growth was broad-based. Travel tours prices and the mortgage interest cost index slowing contributed the most to the deceleration. Shelter costs increased at a slower annual pace of 4.6 per cent, while rent price inflation accelerated to 7.7 per cent. Grocery prices continued to grow faster than overall prices. Inflation has hovered around the Bank of Canada’s two per cent target for several months now, increasing the likelihood of interest rates cut. Increasing bets for a rate cut by Bank of Canada is bearish for Canadian dollar and bullish for USDCAD pair.

IndicatorSignal
RSI Sell
MACD Buy
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy
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USD CAD 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,...

14/6/2024
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