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FOREX: Technical analysis 09/20/12

20.09.2012

USD/CAD

News background:

The sharp decline in crude oil prices had a negative impact on the Canadian dollar. Speculative mood associated with a slowdown in economic growth in China and the statements of Saudi Arabia to increase oil production continues - all that supporting the pair, which may result in local growth.

Technical picture:

From a technical point of view, the pair is in the upper Bollinger above MA 5 and MA 21.

Oscillator Stoch. is in the overbought zone. The RSI indicates there is the prospect of local growth.

Trading recommendations. If the pair exceeds the level of 0.9800 and consolidate above it, buy it from the short to 0.9825.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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