USD/CAD Analisis teknis | USD/CAD Jual beli: 2024-10-29 | IFCM Indonesia
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USD/CAD Analisis teknis - USD/CAD Jual beli: 2024-10-29

USD/CAD Technical Analysis Summary

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Kuat JualSellNeutralBuyKuat Beli

Atas 1.39075

Buy Stop

Bawah 1.38689

Stop Loss

Ara Zohrabian
Ara Zohrabian
Senior Analytical Expert
Artikel2592
IndicatorSignal
RSI Sell
MACD Sell
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

USD/CAD Chart Analysis

USD/CAD Chart Analysis

USD/CAD Analisis Teknis

The technical analysis of the USDCAD price chart on 4-hour timeframe shows USDCAD, H4 is advancing above the 200-period moving average MA(200) as it rebounds after hitting seven-month low four weeks ago. RSI is at the boundary of overbought zone. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.39075. 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 1.38689. 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 Forex - USD/CAD

Canada’s retail sales rose for second month in August. Will the USDCAD price continue advancing?

Canada’s retail sales rose for second month in August: Statistics Canada reported retail sales increased 0.4% over month to $66.6 billion in August after 0.9% growth in July when 0.5% growth was expected. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were down 0.4% in August and retail sales were led by increases at motor vehicle and parts dealers. Slowing Canadian retail sales is bearish for Canadian dollar and bullish for USDAD currency pair. At the same time, the advance estimate of retail sales suggests that sales increased 0.4% in September.

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