August 31, 2020
The British economy is recovering more actively than the Canadian
British GDP fell 21.7% at an annual rate in the second quarter. Canadian GDP contracted significantly more – by 38.7%. Overall, Britain’s economy fell less and is recovering more actively than Canada’s. In June, UK GDP grew by 8.7%, and Canadian – by 6.5%. Note that the possible success of the Brexit negotiations is a positive factor for the pound, while for the Canadian dollar, there is a risk factor in the possible correction of world oil prices that have been traded in a narrow range over a month
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Neutral |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 1,75 |
| Stop loss | Below 1,717 |
Market Analysis provided by IFCMarkets.com
