Technical Analysis 05.12.2018

USDCAD

The pair grew against the backdrop of overall dollar increase due to the possibility of a new world economy recession, which is feared by investors. The pair is also supported by the American Petroleum Institute publication of data on oil and petroleum products, which showed an increase in stocks last week.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. The RSI is above the level of 50% and indicates a weaker growth. Stoch entered overbought zone.

Trading recommendations:

If the pair remains above 1.3250, it may move further up to 1.3380.