Positions | Today | Yesterday | % Change | |
Longs | 49% | 35% | 28.57% | |
Shorts | 51% | 65% | -27.45% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Neutral | |
Alligator (13; 8; 5) | Buy | Neutral | Buy | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇗ | ⇒ | ⇗ |
Bulls managed to regain their lost positions on Wednesday after the pair initially crashed due to the fundamental event. The Bank of Canada hiked their interest rate from 1.25% to 1.50% and initially made the Canadian Dollar to strengthen against the US Dollar.
By the end of trading day, the USD/CAD currency pair has rallied 152 base points or 1.16%. Also, the rate breached all significant resistance. Namely, the 55-, 100-, and 200-hour SMAs and the combination of the weekly and the monthly pivot points respectfully.
Technical indicators favour bullish momentum to continue during the following trading session.