Technical Analysis – USDCAD conveys a dominant negative bias
Posted on September 18, 2020 at 7:56 am GMTUSDCAD has somewhat paused after the pullback from the near 8-month low of 1.2993. The rebound in the price appears to be resting on the mid-Bollinger band at 1.3131, shadowed by a governing bearish structure. The dictating downward sloping 50- and 100-day simple moving averages (SMAs) and the recently completed bearish crossover of the 200-day SMA, may deliver an extra boost to a southward result. Negative signals continue to reign within the short-term oscillators, backing a deteriorating picture. The stochastic [..]