USDCAD United States Dollar - Canadian Dollar Forecast, Technical & Fundamental Analysis

USDCAD's RSI Indicator recovers from oversold territory

The RSI Indicator for USDCAD moved out of oversold territory on September 20, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 29 similar instances when the indicator left oversold territory. In of the 29 cases the stock moved higher. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on September 26, 2023. You may want to consider a long position or call options on USDCAD as a result. In of 118 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for USDCAD just turned positive on September 26, 2023. Looking at past instances where USDCAD's MACD turned positive, the stock continued to rise in of 90 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where USDCAD advanced for three days, in of 267 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where USDCAD declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for USDCAD entered a downward trend on September 26, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.