USDCAD Analysis: USDCAD rising despite better than feared Canadian manufacturing

March 18, 2020

By IFCMarkets

USDCAD rising despite better than feared Canadian manufacturing

Manufacturing sales in Canada declined 0.2% to $56.1 billion in January, the fifth consecutive monthly decline, when 0.6% fall was expected. Despite better than expected Canadian manufacturing data USDCAD setup is bullish.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Buy
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 1.4344
Stop lossBelow 1.4166

Market Analysis provided by IFCMarkets