The USD has dropped significantly versus the CAD in the past few days, and it is currently traded around 0.9677. And now as evident in the data below, the 4-hour chart is giving bullish signals, indicating that USD/CAD pair might go up. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.
• Below is the daily chart of the USD/CAD currency pair.
• The technical indicators that are used are the William Percent Range and Slow Stochastic.
• Point 1: The Slow Stochastic indicates an impending bullish cross, signaling that the next move may be in an upward direction.
• Point 2: The Williams Percent Range has peaked near at the -100 marker, which means that there may actually be a strong level of upward pressure.
USD/CAD-4 Hour Chart
