Forex Technical indicators 25.06.2007
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Moving Average:
Crossing of two moving averages and closing price of the candle is above the short term moving averages
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RSI
RSI in an uptrend pointing to 70% line
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MACD
MACD crosses two lines and pointing upwards with high volume
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Bollinger
Bollinger gives us a bullish signal after closing the candle above the upper band
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Bollinger Band and RSI
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Fundamentals:
The Canadian economic calendar is rather sparse. Next week will begin rather late with Industrial Product and Raw Materials price indices. Though there is building interest underlying an eventual rate hike from the Bank of Canada, these indicators will not likely usher in a 4.50 percent benchmark rate on its own – even if it is a blow out number. On the other hand, the monthly GDP number for April certainly holds a level of importance for the market. Should the economy hold its steady bearing, it would certainly pad the outlook for the economy and an interest rate hike. If the number prints below expectations of a repeat 0.3 percent pick up, it would place a far greater weight on the Canadian dollar than the inflation data did.
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Moving Average and MACD
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