The overall trend for price in eurcad is bullish. Price is currently retesting the support zone between 1.43671 and 1.43135 which also serves as a confluence between the 50 EMA and FIBO retracement golden level. We could see that the RSI and MACD are above the centreline which adds to the possible movement of price to the upside.
VOLATILITY S&P 500 INDEX
After the Monday meltdown, the domestic equity market was set to open higher on Tuesday bucking global cues. Asian peers traded mixed, whereas US stocks settled lower on Monday. The Russia-Ukraine crisis has kept traders on their toes. Oil prices eased after profit taking, whereas the US dollar strengthened.
From the chart overview we could see that the overall trend of price from the 4hr timeframe is bullish. Price seems to have reacted to the resistance zone between 31.08 and 29.61 and is heading down to the support zone. The RSI also shows that price is overbought and already making its movement out of the overbought region to the downside.
The overall bias of LNKUSD from the 4hr timeframe seems bullish. Price is currently retesting the support zone between 15.926 and 15.414 after it last retest in Feb 22. We could see that price has formed a reversal pattern in the form of a divergence with the RSI which adds to the possible movement of price to the upside.