USD/CAD trades around 1.2676

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 73% 73% 0.00%
Shorts 27% 27% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Tuesday's evening the currency exchange rate spent in an expected horizontal movement along the 55-hour SMA towards the bottom trend-line of an active ascending channel. At some moment, the pair has entered into a four hour downfall and has practically sneaked from the pattern. However, a combination of the above support line and moving average should be enough to force the pair to change direction. As 70% of traders continue to hold long positions, in the short run the Greenback is expected to continue to appreciate against the Loonie towards the weekly R1 at 1.2238. The summary of technical indicators supports this scenario by sending clear buy signal. But even if the pair oversteps the pattern's boundary, the drop should not go below the monthly PP at 1.2636 and the 100-hour SMA.

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.