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Technical Analysis
Technical Analysis USDCAD : 2020-09-22
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[QUOTE="IFC Markets, post: 185746, member: 18359"] [SIZE=6][B]Recommendation for USD/CAD: Buy[/B][/SIZE] Buy Stop : Above 1,333 Stop Loss : Below 1,299 [TABLE] [TR] [TD]Indicator[/TD] [TD]Value[/TD] [TD]Signal[/TD] [/TR] [TR] [TD]RSI[/TD] [TD][/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]MACD[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]MA(200)[/TD] [TD][/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]Fractals[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]Parabolic SAR[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]Bollinger Bands[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [/TABLE] [SIZE=6][B]Chart Analysis[/B][/SIZE] [IMG alt="IFC Markets Tech Analysis"]https://ifccd.net/uploads/image/tanalysis/new/9d70c683d8cd6dc17054b168669257c7006f8b95.png[/IMG] On the daily timeframe, [B] USDCAD: D1 [/B] exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if [B] USDCAD [/B] rises above the upper Bollinger band: 1.333. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the lower Bollinger band and the last two lower fractals: 1.299. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (1.299) without activating the order (1.333), it is recommended to delete the order: some internal changes in the market have not been taken into account. [SIZE=6][B]Fundamental Analysis[/B][/SIZE] The Canadian economy is showing signs of slowing recovery from the coronavirus pandemic. Will the USDCAD quotes rise? [/QUOTE]
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