Technical Analysis 03.04.2019

USDCAD

The pair is moving down following the growth of crude oil prices, as well as the positive economic statistics from China, which supports investors’ hope for renewed growth of the world economy, which also implies renewed growth of the demand for oil and oil products.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of  50% and is moving down. Stoch are falling and entering the oversold territory.

Trading recommendations:

Sell the pair after is passes 1.3300 with a  possible further drop to 1.3250.