16 Mar 2017
USD/CAD bears remain unobstructed
The hourly ADX(14) has just crossed above 50, emerging from below the 30 levels where it has been seen during the previous market session.
This is a less frequent technical set-up which suggests the USD/CAD pair should be on its way to achieve further lows the days ahead.
Caution is advised on a possible overshoot threat to the falling 200-SMA, now printing above the recent close.
This is a less frequent technical set-up which suggests the USD/CAD pair should be on its way to achieve further lows the days ahead.
Caution is advised on a possible overshoot threat to the falling 200-SMA, now printing above the recent close.