USDCAD Weekly MACD Trying to Positively Cross
The (USDCAD) appears poised to reclaim the psychologically key 1.30 whole figure level before month end. Any retesting of the 2022 high would likely have to wait until September. A bullish catalyst could arrive with today’s 830am EST release of the US’ Philly Fed manufacturing data. Watch as usual for any signs of escalation in the Ukraine-Russia conflict. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Wednesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter). Click here for analysis on GBPAUD, COCOA
USDCAD Weekly/Daily/4hr
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