T Analysis

USDCAD analysis for 31.07.2020

Gross Domestic Product, Industrial Product Price Index and Raw Materials Price Index were released in Canada and the US will publish PCE Core and Personal Spending.
The pair is finding support at 1.33850 with resistance at 1.34750 which the weekly pivot point at 1.34550 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is moving above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.33800.

usdcad
Source: fxglory