Dollar - Canadian Dollar Analysis

US Session Analysis for CFD Instruments 19/12/2024

Fundamental analysis

19 December, 2024

In European trading, the US Dollar decreased against the Canadian Dollar, trading below 1.4400 levels.

After hitting a four year all time high the pair has started losing ground influenced by the FED’s interest rate cut and the political crisis in Canada. In Canada, Average Weekly Earnings data for October will be posted (13:30 GMT). In the US, Q3 GDP figures (2.8% exp), Initial Jobless Claims (229k exp) and Philadelphia Fed Manufacturing Index for December (3.0 exp) will be released (13:30 GMT).

Technical analysis

Time Frame: 1 hour

USDCAD Support & Resistance Table - 19/12/2024

Support & Resistance	Level	Explanation
Resistance 2	1.4447	Daily R2
Resistance 1	1.4421	Daily R1
Support 1	1.4349	Daily S1
Support 2	1.4323	Daily S2

USDCAD Indicator Table - 19/12/2024

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

USDCAD Indicator / Period Table - 19/12/2024

Indicator / Period	Day - Buy	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Buy	Buy
RSI (14)	Sell	Buy	Buy
SMA 20	Buy	Buy	Buy

USDCAD 19/12/2024 - Reference Price : 1.4388

Buy

Simple Moving Average	Buy (3)	Sell (0)
Technical Indicators - Oscillators	Buy (1)	Sell (2)

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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 Canadian Investment Regulatory Organization (CIRO) 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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