Technical Analysis 17.04.2019

USDCAD

The pair is under pressure in the wake of the publication of strong economic statistics from China, which have increased the growth of optimism in the markets and hopes to continue economic growth in the world. This pushed up oil prices, which has a beneficial effect on the commodity exchange rate - the Canadian dollar.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Movings give a signal to sell. RSI continues to move down after crossing the 50% level. Stoch are in the oversold territory and uninformative.

Trading recommendations:

Sell the pair with its possible drop to 1.3300 and then to 1.3280.