analysis

USDCAD analysis for 06.11.2018

US will release JOLTs Job Openings and IBD/TIPP Economic Optimism and Canada will publish Building Permits.
The pair is finding support at 1.30920 with resistance at 1.31250 which the weekly pivot point at 1.31080 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located above the EMA of 100 and the EMA of 200. The RSI is moving above the 50 level, the MACD line is on the signal line in the neutral territory and the Stochastic is moving in high ranges. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1.315.

usdcad
Source: fxglory