Dollar - Canadian Dollar Analysis

EU Session Analysis for CFD Instruments 28/10/2024

Fundamental analysis

28 October, 2024

In Asian trading, the US Dollar edged lower against the Canadian Dollar, trading above 1.3800 levels.

The USD/CAD initially continued its winning streak, rising for the fourth consecutive day, but began falling during the mid Asian session on Monday. Governor Macklen will Speak (05:30 GMT). In the United States, there are no major data releases today.

Technical analysis

Time Frame: 1 hour

USDCAD Support & Resistance Table - 28/10/2024

Support & Resistance	Level	Explanation
Resistance 2	1.39313	Daily R2
Resistance 1	1.39171	Daily R1
Support 1	1.38793	Daily S1
Support 2	1.38651	Daily S2

USDCAD Indicator Table - 28/10/2024

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 - 28/10/2024

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 28/10/2024 - Reference Price : 1.38982

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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