Positions | Today | Yesterday | % Change | |
Longs | 66% | 59% | 10.61% | |
Shorts | 34% | 41% | -20.59% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Sell | |
RSI (14) | Buy | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Sell | Buy | Sell | |
SAR (0.02; 0.2) | Sell | Sell | Buy | |
Aggregate | ⇘ | ⇒ | ⇘ |
USD/CAD continued to follow bearish pressure on Thursday, as it fell 49 pips during the session. As a result, the US Dollar reached the lower channel boundary circa 1.2670.
The pair's subsequent movement was characterised by a minor consolidation period which has since stranded the rate in a narrow range between the bottom channel boundary and the weekly S1.
It is likely that such a still market would soon accelerate. The base scenario favours the rate edging higher towards the 55– and 100-hour SMAs at 1.2710 and 1.2728, respectively.
In case bears take the dominant hand, there are no barriers limited the US Dollar down to the 1.26 mark where the weekly S2 is located.