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

EU Session Analysis for CFD Instruments 24/06/2021

Fundamental analysis

24 June, 2021

The USD/CAD pair inched upwards this morning to trade at 1.2308 The pair slid lower on Wednesday. Canada’s Retail Sales for April fell 5.7%, Month-over-Month. Its Core Retail Sales for April fell 7.2%, Month-over-Month. The forecast for both was a drop of only 5.0%. New Home Sales for May in the United States for May fell short of their estimate at 769,000. The consensus forecast was 870,000. PMI’s for June in the United States were mixed. Manufacturing beat its forecast at 62.6, but Services PMI was a big miss landing on 64.8 versus the 70.0 expected.

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 24/06/2021
Time Frame: 1 hour

USDCAD Support & Resistance Table - 24/06/2021

Support & Resistance Level Explanation
Resistance 2 1.2423 Daily R2
Resistance 1 1.2355 Daily R1
Support 1 1.2264 Daily S1
Support 2 1.2230 Daily S2

USDCAD Indicator Table - 24/06/2021

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

USDCAD Indicator / Period Table - 24/06/2021

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

USDCAD 24/06/2021 - Reference Price : 1.2310

Sell
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (0)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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