USD/CAD Technical Analysis | USD/CAD Trading: 2020-03-30 | IFCM Hong Kong
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USD/CAD Technical Analysis - USD/CAD Trading: 2020-03-30

USD/CAD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.4167

Buy Stop

Below 1.4011

Stop Loss

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

USD/CAD Chart Analysis

USD/CAD Chart Analysis

USD/CAD Technical Analysis

On 1-hour timeframe USDCAD: H1 is rising toward the 200-period moving average MA(200) which is levelling off. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.4167. 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 1.4011. After placing the order, the stop loss is to be moved to the next fractal low, 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

Bank of Canada cut interest rates as many expected. Will the USDCAD reverse its slide?

Bank of Canada cut interest rates on Friday by a half percentage point to 0.25 percent. This is bullish for USDCAD.

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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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