CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.91% 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 all your money. Read full risk warning.

Dollar - Canadian Dollar Analysis

EU Session Analysis for CFD Instruments 06/05/2021

Fundamental analysis

06 May, 2021

The USD/CAD pair edged higher moving to 1.2272 The pair drifted lower on Wednesday. Canada did not report any significant economic data. In the United States, the ISM Services PMI for April printed at 62.7. The consensus forecast was 64.3. The ADP Nonfarm Employment Change for April was 742,000, below the 800,000 new jobs analysts had predicted.

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 06/05/2021
Time Frame: 1 hour

USDCAD Support & Resistance Table - 06/05/2021

Support & Resistance Level Explanation
Resistance 2 1.2302 Daily R2
Resistance 1 1.2285 Daily R1
Support 1 1.2239 Daily S1
Support 2 1.2222 Daily S2

USDCAD Indicator Table - 06/05/2021

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

USDCAD Indicator / Period Table - 06/05/2021

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Sell SellSell
SMA 20 Sell SellSell

USDCAD 06/05/2021 - Reference Price : 1.2261

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (0)Sell (2)
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