Technical Analysis 30.08.18

USDCAD

The pair is trading within a narrow range before the US and Canada negotiations on NAFTA. If the agreement is reached, the price is expected to continue falling. If the two parties don't come to an agreement, a local rise can be expected.

The price is below the middle Bollinger band, higher than SMA 5 but lower than SMA 14. RSI resides above the oversold zone. Stoch signal a possible reverse upward.

Trading recommendations: 
If the price falls lower than 1.2900 it can lead to a fall down to 1.2830. A rise above 1.2935 may result in the pair reaching as high as 1.2985.