Dollar - Canadian Dollar Analysis

EU Session Analysis for CFD Instruments 03/09/2021

Fundamental analysis

03 September, 2021

During Asian trading, the Canadian dollar strengthened against the US dollar. Yesterday, the ADP hinted that the report from the American labor market on Friday could be much worse. In the USA, only 374.000 jobs were added in the private sector, which is much lower than expected. In addition, the price of crude oil has recovered, which helps Loonie. At around 08:30, the US dollar is exchanged for 1,2542 Canadian dollars, which represents a strengthening of Loonie by 0,11%. At 2:30 p.m. a regular NFP report from the U.S. labor market for August will be released. The unemployment rate is expected to slip from 5.4% to 5.2% and expectations for the number of newly created jobs stand at 750,000.

Technical analysis

Time Frame: 1 hour

USDCAD Support & Resistance Table - 03/09/2021

Support & Resistance	Level	Explanation
Resistance 2	1.2596	Daily R2
Resistance 1	1.2573	Daily R1
Support 1	1.2509	Daily S1
Support 2	1.2486	Daily S2

USDCAD Indicator Table - 03/09/2021

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 - 03/09/2021

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

USDCAD 03/09/2021 - Reference Price : 1.2541

Sell

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

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