The Bollinger bands® on the USD/CAD hour chart continue to point to the volatile environment, but without a prevailing Trend on the higher Timeframes.
The ADX is below 30, which indicates the sideways movement. This is supported by the 50-SMA, which is wedged between the 200 — and 800-SMA. The sideways movement of the USD/CAD seems to be on the longer-term, more stop.
Traders can use for buying opportunities for a divergence between the price and the oscillators. The target of the 800 SMA. A clear break of the 50-SMA 200-SMA signaling a bearish trend.
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