Technical overview 12.04.18

USDCAD

The pair is in downtrend as the geopolitical tension surrounding the situation in Syria increases. It’s still unclear whether the US will carry out a missile strike, but if it happens, the tension will reduce and the pair will be expected to reverse upwards.

The price is below the middle line of the borders of Bollinger bands, above EMA 5, but still below EMA 13. RSI is above the oversold zone. Stochastic oscillators have reversed upwards.

Trading recommendations:

If the price passes the mark of 1.2620, it may go further up to 1.2745.