USD/CAD remains at same level

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 65% 66% -1.54%
Shorts 35% 34% 2.86%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Greenback managed to gain some value against the Loonie during the second half of Monday's trading session. The 1.2540 mark, however, proved to a reversal point that pressured the rate back south. 

In general, the rate has failed to form distinctive peaks near the upper boundary of both ascending channels. Thus, the assumption that the US Dollar could decline this week still holds. 

The ultimate low could be set at the 200-hour SMA located near the 1.24 mark. Along the way, the rate still faces various support areas, namely, the 55– and 100-hour SMAs, the weekly PP and the 61.8% Fibonacci retracement. 

In the short-term, the Greenback might enter a slight consolidation period.

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.