Positions | Today | Yesterday | % Change | |
Longs | 72% | 75% | -4.17% | |
Shorts | 28% | 25% | 10.71% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Sell | Sell | Sell | |
SAR (0.02; 0.2) | Sell | Sell | Sell | |
Aggregate | ⇓ | ⇓ | ⇓ |
The US Dollar remained stable against the Canadian Dollar in the second half of Monday's trading session. However, resistance set by the 55-hour SMA started working effectively at halting the pair even prior this level was reached. As a result, the Greenback has returned at this week's low near the 1.2380 mark.
The expected recovery might not be in sight during the next 24 hours, as bears seem to dominate the current sentiment. A likely scenario could drag the rate down to the weekly S1 at 1.2357 and remain near this level until mid-Wednesday.
It should be noted that the 1.2372 mark reached on Friday is a two-year low. This implies that the rate may be reluctant to edge even lower.