USDCAD analysis for 24.10.2017

USD is acting stronger against its Canadian counterpart after the Bank of Canada announcement regarding the rate hikes. The pair is finding support at 1.26160 with resistance at 1.26650 which both lines are above the weekly pivot point at 1.25680. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in overbought area, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The ADX is showing buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend. Long positions are recommended towards 1.28. https://fxglory.com/usdcad-analysis-for-24-10-2017/