USDCAD analysis for 02.05.2017

USDCAD has been growing up since the previous low at 1.32215. The pair is finding support at 1.36470 with resistance at 1.36800 which both lines are above the weekly pivot point at 1.35830. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 100 and below the EMA of 200. The RSI is moving in the overbought area, the MACD indicator is in positive 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 below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Long positions are recommended targeting 1.375. https://fxglory.com/usdcad-analysis-for-02-05-2017/