USD/CAD analysis for December 07, 2018 - ConsultFX

USD/CAD analysis for December 07, 2018


Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3444. Anyway, according to the H4 time – frame, I have found that price went above the Keltner upper band (overbought conditions) and then it moved back inside the Keltner channel, which is a sign that buying looks risky. I have also found a hidden bearish divergence on the LBR oscillator, which is anotther sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.3335 and at the price of 1.3250.

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