of medium term
The Canadian dollar continues a steady strengthening against the US dollar , influenced by prospects of oil price growth, breaking the rising medium-term USDCAD pair, top-down, marking the reversal of the trend on the graph D1.
The pair currently quotes USDCAD at the center of the trading range 1.2520 - 1.3570, defining the closest downstream up to the level of intersection with the line of the uptrend 1.3200.
Suppression of exponential moving averages at intervals of 50 and 100 days, confirming the occurrence of the downward trend in the current range, with the immediate goal at the level of 1.2866, and an option to achieve the lower 1.2520 range.
Oscillator is aimed at being a negative value of 41.87, indicates the presence of power reserve in the development of downward dynamics within the mid-level range of quotes.
Open short positions with the installation of stop levels above $ 1.3200.