USDCAD analysis for 10.05.2017

USDCAD has not been volatile and the oil market has been quiet as well. The pair is finding support at 1.36970 with resistance at 1.37390 which both lines are above the monthly pivot point at 1.35210. The EMA of 10 is moving horizontally and it is located above the EMA of 100 and below the EMA of 200. The RSI is moving in the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Short positions are recommended targeting 1.3610. https://fxglory.com/usdcad-analysis-for-10-05-2017/