CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 23/07/2021

Fundamental analysis

23 July, 2021

The USD/CAD pair edged upwards this morning to trade at 1.2570 The pair meandered sideways in a tight channel on Thursday. Canada did not report any significant economic data. Initial Jobless Claims in the United States for the past week were higher than analysts had predicted. They printed at 419,000, above the 350,000 forecast. Existing Home Sales for June in the United States came in close to their estimate at 5.86 million new homes. The consensus forecast was 5.90 million.

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 1.2657 Daily R2
Resistance 1 1.2619 Daily R1
Support 1 1.2518 Daily S1
Support 2 1.2480 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) Neutral
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) Neutral NeutralNeutral
SMA 20 Sell BuySell

USDCAD 23/07/2021 - Reference Price : 1.2569

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