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CAD

USDCAD I LIKE!USD CAD I like! Oversold last week led to a strong support USDCAD 1.27636. seems to be an interesting week, this day is above the oversold level, however seems to be run out of strength the US dollar, I think that before the end of the week approached the area 1.3000, with little chance of overcoming the resistance of 1.31000. I can consider, if we dont have relevant information or something extraordinary happens before the talk of Yellen, the pair could maintain a sideways trend until Wednesday, and Thursday to Friday happen 2 things, reaffirming the uptrend or falling back to oversold level of the week last hoping Yellen still not give clues about its stance on the possible rate hike. if the market is optimistic we could see the usdcad above 1.31000. RSI (50) Divergence 16/08 (34) 18/08 (37) Stochastic (10,50,9) AFTER 2 WEEKS THIS SLOW LINE ABOVE THE LEVEL OF 50
Long
by friscodanconia
AUD/CAD holds 200-DMA support, weakness only on break belowAUD/CAD trades a narrow range on the day, with a high of 0.9820 and a low of 0.9785. Oil-price weakness, after bearish US rigs count report last week likely to keep CAD depressed. The pair is holding above major support by 200-DMA at 0.9781, violation there could see test of 0.9722 (50% Fib). We have evidenced a hammer formation at lows near 0.9761 on Friday's trade, scope for some upside. 38.2% Fib at 0.9816 is immediate hurdle, break above could see test of 20-DMA at 0.9920. Stochs are at oversold territory, but other indicators are inconclusive. We recommend waiting for Stochs rollover from oversold levels, with a price breakout above 38.2% Fib at 0.9816 to go long for 0.9920. On the flipside, short close below 200-DMA at 0.9781, target 0.9722
by FxWirePro