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Forex currency market USDCAD forecast trading plan 04/15/2020

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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.

 

 

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