In the most recent session within the Asian markets, there was a discernible uptick in the US Dollar’s value against the Canadian Dollar, with it notably surpassing the 1.3500 threshold.
On the Canadian front, there’s a quiet day ahead with no significant economic announcements scheduled. Conversely, the spotlight turns to the United States, where the Initial Jobless Claims data is poised for release. This data is a critical economic indicator, offering insights into the employment trends within the country, which, in turn, can influence currency valuations and investor sentiment.
This scenario underscores a pivotal moment in financial investment strategies, where the integration of technology and market insight opens up new avenues for gains. For everyday investors, this represents an accessible pathway to understanding market opportunities and leveraging them for financial growth.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 04/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3551 | Daily R2 |
| Resistance 1 | 1.3534 | Daily R1 |
| Support 1 | 1.3486 | Daily S1 |
| Support 2 | 1.3469 | Daily S2 |
USDCAD Indicator Table – 04/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
USDCAD Indicator / Period Table – 04/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Sell | Buy | Buy |
USDCAD 04/04/2024 – Reference Price : 1.3511
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (3) |
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