21 December, 2018
The USD/CAD keeps showing a bullish mood. The CAD is trading in a flat. Positions should be opened from the key interest levels of 1.34900 and 1.35300. Investors are waiting for the economic reports from Canada. Also, keep an eye on the oil quotes dynamics.
The price fixed above 50 MA and 200 MA which points toward the power of the buyers.
The MACD is in the positive zone and keeps rising which points toward the growth of USD/CAD.
The Stochastic Oscillator is in the neutral zone, the %K line is higher than the %D line, which gives a signal to buy USD/CAD.
If the price fixes above 1.35300 expect further growth toward 1.35600-1.35800.
Alternatively, the price can fix below 1.34900 and you should expect a drop-off toward 1.34600-1.34400.
Several factors that put pressure on the black gold dynamics. The current technical pattern of the oil market, several trading recommendations...
The GBP/USD pair was keeping the local supply zone in the 1.35850-1.36300 range during the last week. It caused a correction. The US currency was supported