Technical Analysis &CAD_Index : 2020-05-19

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
Recommendation for CAD Index: Strong Buy

Buy Stop : Above 0,773
Stop Loss : Below 0,753

IndicatorValueSignal
RSIBuy
MACDBuy
MA(200)Neutral
FractalsNeutral
Parabolic SARBuy
Bollinger BandsBuy


Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe, CAD_Index: D1 broke through the upper border of the downtrend. A number of indicators of technical analysis formed signals for a further increase. We do not exclude a bullish movement if CAD_Index rises above its last upper fractal and Bollinger Upper Line: 0.773. This level can be used as an entry point. We can set a stop loss below the Parabolic signal, the lower Bollinger line and the lowest since 2016: 0.753. After opening the pending order, we move the stop loss after the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss level (0.753) without reaching the order (0.773), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis
In this review, we propose to consider a personal composite instrument (PCI) "CAD currency index." This is the Canadian dollar currency index, which rises with the strengthening of the Canadian currency. Is the growth of &CAD_Index quotes possible?