USDCAD Live Chart | USDCAD Live Rate | Dollar to Canadian Dollar Chart | IFCM India
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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 technical analysis of the USDCAD price chart on 4-hour timeframe shows USDCAD,H4 is retreating after hitting five-month high a week ago above the 200-period moving average MA(200) which is tilted up. We believe the bearish momentum will resume after the price breaches below the lower boundary of Donchian channel at 1.3686. 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 1.3741. 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

The rise of prices of products manufactured in Canada continued in March. Will the USDCAD price continue retreating?

Prices of goods manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose 0.8% over month in March after 1.1% increase in February. This was the second monthly increase in a row after four consecutive declines. However the industrial product prices declined 0.5% over year in March after falling 1.7% in February. Main downward contributions to the year-over-year movement were again lower prices for unwrought nickel and nickel alloys (-25.9%), followed by grain and oilseed products (-17.6%), and diesel fuel (-7.3%). Falling producer prices, albeit with slowing rate of decline, are bearish for Canadian currency and bullish for USDCAD as decline of wholesale prices reflects downward pressure on consumer prices and means no need for restrictive Canadian monetary policy. However, the current setup is bearish for the pair.

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