Grand Capital - Analytics

    Grand Capital

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    USDCAD Technical analysis 29.01.2016


    The pair is traded lower than 1.4035 support level awaiting for the publication of Candian GDP numbers. If they are worse than predicted ( 30% against previous 0.00), the pair can obtain stimulus to dicrease which is supported by the rise in oil prices.

    The price is on the lower Bollinger band, lower than SMA5 and SMA14. RSI resides lower than 50% level and moving horizontally. Stoch are lower than 50% level and non-informative. 

    Trading recommendations: Sell the pair if GDP numbers are good with approximate target of 1.3915.

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