EUR/USD Spiked after Positive News in China and Europe

USD/CAD:

It appears a violent breach of the lower border on the daily chart’s Bollinger Bands has recently occurred, signaling that there is upward pressure on this pair. Supporting this notion is an imminent bullish cross on the daily chart’s Slow Stochastic and a recent bullish cross on the 4-hour chart’s Slow Stochastic. The RSI on the 4-hour chart also indicates that the price currently floats in the over-sold territory. Forex traders can benefit by entering long positions early and riding out this imminent upward price movement.