Bullish technical event alert USD/CAD
Is there a replacement uptrend emerging within the USD/CAD?
Using the "technical Insight" research tool under the marketing research tab, we've identified a short-term Bullish technical event within the USD/CAD.
Williams for brief term bullish signal confirmed on USD/CAD
There is evidence that the trend within the USD/CAD may need reversed after the Williams %R oscillator broke above its -50 median level indicating upside momentum after the pair recovered from oversold (dropped below -80 then rose above).
Williams neither is built on the premise that as prices increase, prices tend to be closer to the upper end of the recent price range, and the other way around . The oscillator looks at the foremost recent price bar as a percentage of the high-to-low price range over a specified period of your time (14 bars) so when you think about is high, it's likely we're seeing upward pressure, and the other way around . the road fluctuates between 0 and -100 with -20 and -80 often wont to identify overbought and oversold conditions.
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