1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Is USDCAD a sell after a rally?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    USDCAD, 240 min USDCAD has been moving lower in recent days while the WTI crude has rallied. Now the pair is oversold and therefore vulnerable to contra trend moves. Stochastics is well below the oversold threshold in the daily chart and USDCAD has moved below the lower Bollinger bands. Crude oil is looking a bit weak today and could incite a rally in the inversely correlated USDCAD. The intraday price action indicates that the markets are indeed trying to move USDCAD higher from the current

    Continue reading...
     

Share This Page