USD/CAD moving towards target

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 54% 60% -11.11%
Shorts 46% 40% 13.04%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The USD/CAD currency pair has made no significant advances during the previous trading session, as the 38.20% Fibonacci retracement level restricted any attempts made by bulls to move above the 1.3180 mark. Bears managed to take control of the pair during the early hours of Friday's trading session. By the middle of the day, the exchange rate has tested the 55-hour simple moving average at 1.3127. Given that the currency exchange rate has breached the 55-hour SMA, the next target for the bearish momentum could be a  support cluster formed by the weekly and the monthly PPs near the 1.30mark.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.