USD/CAD’s EMAs Looking To Move Into Bearish Stack
The below is the daily chart of the USDCAD. We note that the green 5-day EMA is converging on the orange 13-day EMA (blue ellipse). A bearish crossover will result in USDCAD’s EMAs moving into a bearish stack. I.e. the green 5-day EMA will be below the orange 13-day EMA, and the orange 13-day EMA will be below the black 34-day EMA. The RSI(9) has already slipped below 50 and is indicative of an underlying bearish momentum (blue rectangle).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.