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USD/CAD: technical analysis 27/01/2021
A sideways trend is forming on the 4-hour chart. The instrument is consolidating in the area of the middle line of Bollinger bands, the indicator cloud is narrowed, so the sideways dynamics are likely to remain in the short term. The MACD histogram is in the positive area, keeping the minimum volumes, the signal line is directed horizontally, not forming a clear signal to enter the market. Stochastic crosses the border of the overbought zone upwards, a signal to open buy positions is formed. A sideways trend is also forming on the daily chart. The instrument is trading in the area of the middle line of Bollinger ... (full story)