CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Dollar - Canadian Dollar Analysis

US Session Analysis for CFD Instruments 23/07/2021

Fundamental analysis

23 July, 2021

The USD/CAD pair traded sideways in a tight channel on Friday. It is 1.25662 at lunchtime in Europe. Canada will report its Retail Sales for May later today. The United States will post its latest Manufacturing and Services PMI’s this afternoon.

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 23/07/2021
Time Frame: 1 hour

USDCAD Support & Resistance Table - 23/07/2021

Support & Resistance Level Explanation
Resistance 2 1.2648 Daily R2
Resistance 1 1.2610 Daily R1
Support 1 1.2509 Daily S1
Support 2 1.2471 Daily S2

USDCAD Indicator Table - 23/07/2021

Indicator Signal
SMA 20 Sell
SMA 50 Sell
SMA 100 Buy
MACD( 12;26;9) Sell
RSI (14) Buy
Stochastic ( 9;6;3) Buy

USDCAD Indicator / Period Table - 23/07/2021

Indicator / Period Day - SellWeek - BuyMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Buy NeutralNeutral
SMA 20 Sell BuySell

USDCAD 23/07/2021 - Reference Price : 1.2572

Sell
Simple Moving AverageBuy (1)Sell (2)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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