USD/CAD potential surge

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

Positions Today Yesterday % Change
Longs 62% 63% -1.61%
Shorts 38% 37% 2.63%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Upside risks prevailed in the market on Friday, thus allowing the US Dollar to surged by 102 base points against the Canadian Dollar. As a result, the currency pair breached both the weekly and the monthly PPs at 1.3007 and 1.3036 during the end of the trading session.

Bullish momentum is expected to continue within this session. However, a support line set by the weekly PP at 1.3036 need to hold firmly.

If and when the support level as mentioned earlier holds, the next target for bull's traders could be the upper boundary of a junior ascending channel during the following trading sessions.

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