USD/CAD 100-SMA now below 200-SMA

FXStreet Algorythms FXStreet

A decline in the 100-period below the 200-period moving average has been spotted on the hourly USD/CAD charts.

Due to the time lag involved in MA crosses, each event must be evaluated individually. In the current scenario, the recently printed high prices on the hourly USD/CAD charts are at relatively narrow distance to the SMA cross which could be used as technical hotspot by traders wanting to take advantage of the marginal rally. The risk scenario is an overshoot beyond the 200 SMA.

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FXStreet Algorythms

FXStreet

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