USD/CAD reveals new channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 28% 27% 3.57%
Shorts 72% 73% -1.39%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Sell
Stochastic (5; 3; 3) Buy Buy Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate ⇒ ⇒ ⇒

[ANNOUNCE]The US Dollar depreciated about 123 base points against the Canadian Dollar on Friday. The currency pair revealed a new junior descending channel pattern during Monday's trading session.[/ANNOUNCE]

As for the near future, it is likely that the newly formed junior descending channel could guide the USD/CAD exchange rate towards the lower boundary of a dominant ascending channel at 1.3313. 

Moreover, technical indicators suggest that bears are likely to continue their dominance in the market today.

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