CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Dollar - Canadian Dollar Analysis

US Session Analysis for CFD Instruments 01/11/2024

Fundamental analysis

01 November, 2024

In European trading, the US Dollar inched higher against the Canadian Dollar, trading above 1.3900 levels.

The USD/CAD pair moved slightly higher and is trading close to yesterday’s three month high in the European session. In Canada Manufacturing PMI data for October (47.8 exp) will be released (13:45 GMT). In the United States, Nonfarm Payrolls and Unemployment Rate for October 108k exp and 4.1% respectively, will be released (12:30 GMT), Manufacturing PMI data for October (47.8 exp) will also be released (13:45 GMT).

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 01/11/2024
Time Frame: 1 hour

USDCAD Support & Resistance Table - 01/11/2024

Support & Resistance Level Explanation
Resistance 2 1.39555 Daily R2
Resistance 1 1.39441 Daily R1
Support 1 1.39137 Daily S1
Support 2 1.39023 Daily S2

USDCAD Indicator Table - 01/11/2024

Indicator Signal
SMA 20 Buy
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Buy
RSI (14) Buy
Stochastic ( 9;6;3) Buy

USDCAD Indicator / Period Table - 01/11/2024

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

USDCAD 01/11/2024 - Reference Price : 1.39330

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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Risk warning   Privacy policy
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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