USDCAD Live Chart | USDCAD Live Rate | Dollar to Canadian Dollar Chart | IFCM UK
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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 has returned above the 200-period moving average MA(200) following a rebound after hitting two-week low four days ago. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.3689. 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 1.3629. 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 building permits growth reversed in March. Will the USDCAD price advancing continue?

Canada’s building permits growth reversed in March. Statistics Canada reported Building Permits fell 11.7% over month in March to CA$10.5 billion led by drop in the non-residential sector. The prior month building permits grew 8.9% and was expected the growth would be replaced by 4.6% decline in March. At the same time, the total value of building permits in the first quarter of 2024 was CA$33.4 billion, a 3.7% increase from the previous quarter. However, the construction intentions in the first quarter of 2024 remained lower than the average quarterly levels of the previous two years. Decline in Canadian building permits is bearish for Canadian dollar and hence bullish for USDCAD pair.

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