Dollar - Canadian Dollar Analysis

US Session Analysis for CFD Instruments 29/01/2025

Fundamental analysis

29 January, 2025

In European trading, the US Dollar increased against the Canadian Dollar, trading above 1.4400 levels.

The currency pair has been increasing since this morning’s session ahead of the Bank of Canada interest rate cut today as well as Donald Trump’s potential tariffs on February 1st. In Canada, the Bank of Canada will meet to set interest rates (3.00% exp; cut of 25 basis points) this afternoon (14:45 GMT). In the US, the Fed Interest Rate Decision (unchanged: 4.50% exp) and Press Conference will take place (19:00 and 19:30 GMT respectively).

Technical analysis

Time Frame: 1 hour

USDCAD Support & Resistance Table - 29/01/2025

Support & Resistance	Level	Explanation
Resistance 2	1.4482	Daily R2
Resistance 1	1.4459	Daily R1
Support 1	1.4397	Daily S1
Support 2	1.4374	Daily S2

USDCAD Indicator Table - 29/01/2025

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

USDCAD Indicator / Period Table - 29/01/2025

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

USDCAD 29/01/2025 - Reference Price : 1.4425

Buy

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

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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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