Positions | Today | Yesterday | % Change | |
Longs | 65% | 63% | 3.08% | |
Shorts | 35% | 37% | -5.71% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Buy | Sell | Buy | |
Alligator (13; 8; 5) | Sell | Buy | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇒ | ⇒ | ⇒ |
After breaching the upper boundary of a short-term falling wedge, the US Dollar gained momentum against the Loonie and managed to test 1.2520. The pair hindered near this mark for several hours, but eventually failed to move past this mark.
Meanwhile, Canada disappointed with sluggish CPI and Retail Sales data released at 1230GMT and thus gave the US Dollar bulls the necessary momentum to push the rate as high as the 1.2570 mark.
By and large, the bullish sentiment might prevail in the market even after reaction on the weak data allays. The rate is likely to test the upper boundary of the four-week channel along the way and subsequently reverse to the downside. A possible trading range until mid-Monday could be 1.2570/1.2480.