USD/CAD Weekly Analysis 07 April 2017

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The crucial points are:


USD/CAD has unsuccessfully attempted several times to stay higher than 1.34102 level, with bears returning back to the market with strength yesterday and today, after a week of absence. The reason for such volatile behaviour could be attributed to the Crude’s appreciation higher than 2%, resulting from the US missile attack on a Syrian airbase, having investors running for safety in Gold and Crude.

Charting outcome: Neutral – Marginally bearish

INDICATORS (computerized T.A)

The crucial points are:



The indicators are signaling that a weak uptrend has occurred. The moving averages slopes have become marginally rising, while the balance between the positive and the negative dynamic has positively changed. The trend dynamic has marginally fallen by -0.37%, whilst the market’s volatility has marginally risen by +2.73%. Finally, the oscillators have become marginally overbought.

Indicators outcome: Neutral – Marginally bullish     


Both indicators and charting seem to confirm that the price is more likely to follow the neutral path. If the price appreciates higher than 1.34102 level, the 1.34958 level could be the next resistance. On the contrary, if the price breaks lower than 1.33017 level, the next possible support could be at 1.31993 level.

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