Positions | Today | Yesterday | % Change | |
Longs | 72% | 70% | 2.78% | |
Shorts | 28% | 30% | -7.14% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Sell | Neutral | Buy | |
Stochastic (5; 3; 3) | Sell | Sell | Neutral | |
Alligator (13; 8; 5) | Buy | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇒ | ⇘ | ⇘ |
Beginning of the new trading week the currency pair met at the monthly PP at 1.2636. Using this support level as trampoline, the US Dollar started an eight hour surge against the Canadian Dollar. At the moment, the rate has reached the upper trend-line of a recently formed ascending channel. For this reason, a rebound is expected to follow. This scenario is supported by a number of technical indicators, which suggest that the pair is overbought. The rest of the day the currency rate most likely is going to spend in a downside movement within towards the southern boundary to create a third reaction low. Since there will be no data releases in the upcoming two days, the pair should continue to gradually advance in the above ascending channel.