Positions | Today | Yesterday | % Change | |
Longs | 74% | 73% | 1.35% | |
Shorts | 26% | 27% | -3.85% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Buy | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Sell | |
Aggregate | ⇘ | ⇘ | ⇘ |
The previous trading day did not bring any changes for the USD/CAD pair. It is still continuing to move in a short-tern descending channel. More specifically, yesterday the rate has bounced off from the bottom trend-line for the third time and, thus, brought the channel to maturity. Theoretically, this fact indicates on the upcoming dissolution of this pattern. In practice, it is easy to note that in the early morning of today's trading session the 55-hour SMA prevented the pair from reaching the upper trend-line, which, in turn, points out on formation of the falling wedge. If this assumption is true, the pair is expected to leave the formation in the next 24 hours. However, a combination of the monthly S2 and the weekly S1 are likely to neutralize the sharp downfall.