{"id":7601,"date":"2024-12-18T09:26:32","date_gmt":"2024-12-18T06:26:32","guid":{"rendered":"http:\/\/27.preview.freshtone.ru\/technical-indicators-signal-usdcad-correction-before-fed-rate-decision\/"},"modified":"2024-12-18T09:26:32","modified_gmt":"2024-12-18T06:26:32","slug":"technical-indicators-signal-usdcad-correction-before-fed-rate-decision","status":"publish","type":"post","link":"https:\/\/27-preview.freshtone.ru\/en\/technical-indicators-signal-usdcad-correction-before-fed-rate-decision\/","title":{"rendered":"Technical indicators signal USDCAD correction before Fed rate decision"},"content":{"rendered":"<p>The USDCAD currency pair is moderately rising on Wednesday. The Canadian dollar weakened to a five-year low, reaching the lowest level since April 2020. The main reasons for the national currency depreciation were political instability in Canada and an unexpected decline in inflation.<\/p><p><br><\/p><p>Investors await the results of the two-day meeting of <a href=\"https:\/\/marketcheese.com\/indicator\/us-fed-interest-rate-decision\" rel=\"noopener noreferrer\" target=\"_blank\">the U.S. Federal Reserve<\/a>, which will be announced on Wednesday. Market participants expect the Fed to reduce rates by 25 basis points. This will be the third cut in a row. According to the CME FedWatch Tool, the chances of such a move are almost 100%.<\/p><p><br><\/p><p>Market participants will pay special attention to the Fed&#8217;s press conference and the publication of the Summary of Economic Projections, which will shed light on the regulator&#8217;s monetary policy plans for the next year.<\/p><p><br><\/p><p>The Canadian dollar remains under pressure after the unexpected resignation of Canadian Deputy Prime Minister Chrystia Freeland on Monday. She has disagreed with Prime Minister Justin Trudeau over Donald Trump&#8217;s U.S. tariff threats. The move marked the first open discord within Trudeau&#8217;s cabinet, intensifying calls for him to step down as prime minister.<\/p><p><br><\/p><p>In addition, Canada&#8217;s annual inflation rate fell to 1.9% in November from 2% in October. Against this backdrop, investors continue to expect another <a href=\"https:\/\/marketcheese.com\/indicator\/ca-boc-interest-rate-decision\" rel=\"noopener noreferrer\" target=\"_blank\">interest rate cut<\/a> by the central bank in January.<\/p><p><br><\/p><p>In the short term, the dynamics of the pair will depend on the outcome of the Fed meeting: a rate cut may correct the pair&#8217;s course.<\/p><p><br><\/p><p>From the technical point of view, <a href=\"https:\/\/marketcheese.com\/symbol\/usdcad\" rel=\"noopener noreferrer\" target=\"_blank\">USDCAD<\/a> is in an upward trend on the daily timeframe (D1). The quotes, approaching the trend resistance, may weaken the bullish dynamics. Additionally, the RSI divergence (standard values) indicates a possible change in price direction towards the trend support of the ascending channel.<\/p><p><br><\/p><p><strong>Signal:<\/strong><\/p><p>The short-term outlook for <strong>USDCAD<\/strong> is to <strong>sell<\/strong>.<\/p><p><strong>The target<\/strong> is near the level of <strong>1.4200<\/strong>.<\/p><p>Part of the profit could be fixed near the level of 1.4270.<\/p><p>The Stop loss could be placed near the level of 1.4420.\u00a0<\/p><p><br><\/p><p>The bearish trend is of a short-term nature, so it is suggested to limit the trading volume to no more than 2% of your capital.<\/p>","protected":false},"excerpt":{"rendered":"Market analysis by financial analysts and experienced traders. Forecast for USDCAD.","protected":false},"author":1,"featured_media":7602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-7601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forecasts-en"],"translation":{"provider":"WPGlobus","version":"2.12.2","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":true},"en":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Technical indicators signal USDCAD correction before Fed rate decision - SSC<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Technical indicators signal USDCAD correction before Fed rate decision - 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