Canadian Dollar: USD/CAD (CAD=X) bias is neutral
USD/CAD dropped to 1.3289 last week but drew support from 55 day EMA and recovered. Initial bias is neutral this week first. On the upside, break of 1.3371 minor resistance will suggest that pull back from 1.3467 has completed. That will also revive the bullish case that rise from 1.3068 is still in progress. In such case, intraday bias will be turned back to 1.3467 resistance and above. However, break of 1.3289 will extend the decline from 1.3467 to 1.3068/3112 support zone.
Shayen Heffernan said ‘with Canada’s current government do not bet on a CAD rally any time soon”.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.35.
The projected lower bound is: 1.32.
The projected closing price is: 1.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 22.7099. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.51. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 52 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 13. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.
Rex Takasugi – TD Profile
FOREX CAD= closed up 0.000 at 1.333. Volume was 30% above average (neutral) and Bollinger Bands were 11% wider than normal.
Open High Low Close Volume___
1.333 1.337 1.329 1.333 125,681
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1.34 1.33 1.32
Volatility: 6 7 8
Volume: 117,653 107,584 90,971
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX CAD= is currently 1.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CAD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CAD= and have had this outlook for the last 19 periods.