Thursday, 1 August 2013

USD/CAD update

USD/CAD D1 chart

Looks to me that this pair is building up strength to go upward because of the higher high pattern of price.

Stochastic K just out of the oversold area pointing upward. MACD histogram is showing weakness of selling volume and macd line and signal is about to crossover. RSI line bouncing off going upwards and is about to cross the 50 level. ADX is still a long way to confirm the trend.

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