Technical analysis for USDCAD

The analysis shows a variety of moving averages and oscillators, and an overall buy/sell score based on the combination of all the indicators. All the figures update live based on each new market tick.

The moving averages combine traditional calculations (EMA, SMA) with averages which are designed to respond more quickly to changes in price, and to track the current price more closely (Hull, Arnaud Legoux). The table is colour-coded based on whether the current price is above (bullish) or below (bearish) each moving average.

The oscillators track over-bought and over-sold conditions. For example, a value of 80+ on the Stochastic oscillator is traditionally regarded as an over-bought signal, and therefore bearish.

The technical analysis also shows daily pivot points using a variety of popular calculations. If the current price has breached a support level, then that is considered as bearish. Conversely, the analysis regards it as bullish if the price is above a resistance level.

You can change the periods which are used for moving averages, and for oscillators. Adding more moving averages will change their weight in the total score compared to the oscillators. Conversely, adding or removing oscillators will change their contribution to the overall score relative to the moving averages.

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About USDCAD

The USDCAD currency pair is the abbreviation for the U.S. dollar versus Canadian dollar. Trading the USDCAD currency pair is also known as trading the "loonie," which is the name for the Canadian one dollar coin. The USD/CAD is affected by factors that influence the value of the U.S. dollar and/or the Canadian dollar in relation to each other and other currencies. Some of the economic events that affect the pair include the interest rate differential between the Federal Reserve (Fed) and the Bank of Canada (BoC) and the price of commodities, especially oil because the Canadian economy is heavily reliant on oil.