USD/CAD’s EMAs Looking To Move Into Bearish Stack

Russell Shor, CFTe, MFTA FXCM

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).

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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