Indicator Signal
- RSI Neutral
- MACD Buy
- Donchian Channel Neutral
- MA(200) Buy
- Fractals Buy
- Parabolic SAR Buy
Chart Analysis
On 1-hour timeframe USDCAD: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4344. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.4166. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis
Manufacturing sales in Canada for January were not as down as feared. Will the USDCAD reverse down?
USDCAD Forecast | USDCAD rising despite better than feared Canadian manufacturing | IFCM