Technical review and forecast of USDCAD 04/15/2020
The USDCAD pair is correcting upward on the wave of expectations of the final decision of the Central Bank of Canada on monetary policy. It also supports the correction of crude oil prices. In the wake of these two factors, the USDCAD pair may receive local support before turning back down.
Technical picture of USDCAD: The
price of USDCAD is above the middle line of the Bollinger indicator, above SMA 5 and SMA 14. The RSI crosses the line at 50% and gives a signal to buy a pair. Stoch confidently grow up.
USDCAD Trading Plan:
We expect a local growth of the USDCAD pair up to 1.4080 before it turns back down in the wake of the resumption of growth in oil prices.
Watch the USDCAD rate online
Grand Capital Analytics
Analytical reviews and comments on them reflect the subjective opinion of the authors and are not a recommendation for trading. Forex Special is not responsible for possible losses in case of using review materials.