Will the USD/CAD quotes rise?

Recommendation for USD/CAD: Buy

Buy Stop : Above 1,333

Stop Loss : Below 1,299

Indicator Value Signal
RSI   Neutral
MACD   Buy
MA(200)   Neutral
Fractals   Buy
Parabolic SAR   Buy
Bollinger Bands   Buy


Chart Analysis


On the daily timeframe, USDCAD: D1 exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if USDCAD rises above the upper Bollinger band: 1.333. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the lower Bollinger band and the last two lower fractals: 1.299. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction the most risk-averse traders can switch to the four-hour chart and set a stop

Read More