- Analytics
- Technical Analysis
USD CAD Technical Analysis - USD CAD Trading: 2025-01-13
USD/CAD Technical Analysis Summary
Above 1.44626
Buy Stop
Below 1.43745
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
USD/CAD Chart Analysis
USD/CAD Technical Analysis
The technical analysis of the USDCAD price chart on 4-hour timeframe shows USDCAD,H4 is retracing up above the 200-period moving average MA(200) after retreating to four-week low a week ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.44462. 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 1.43745. 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
Canada’s employment change and unemployment data for December surprised on positive side. Will the USDCAD price continue advancing?
Canada’s employment change and unemployment data for December were much better than expected. The Statistics Canada reported the number of employed people during the previous month rose by 90.9 thousand in December after 50.5 thousand increase in November when a growth of only 24.9 thousand was expected. At the same time the Canadian unemployment rate ticked down to 6.7% from 6.8%. And the employment rate — the proportion of the population aged 15 and older who are employed — increased 0.2 percentage points to 60.8% in December, after holding steady in November. The increase in December was the first since January 2023. The Statistics Canada reported also average hourly wages continued rising on annual basis in December albeit at slower rate: at 3.8% after 4.1% growth in November. Stronger Canadian labor market report is bullish for Canadian dollar and bearish for USDCAD pair. However, the US nonfarm payroll also came in much stronger than expected: US payrolls rose 256 thousand in December versus the 165 thousand consensus estimate. Stronger US nonfarm payrolls report is bullish for dollar and the USDCAD pair.
- Get Certificate
Note:
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.