Positions | Today | Yesterday | % Change | |
Longs | 43% | 46% | -6.98% | |
Shorts | 57% | 54% | 5.26% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Neutral | Buy | Buy | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇒ | ⇒ | ⇗ |
Following the Canadian GDP m/m release on Thursday, the USD/CAD exchange rate seems to have returned back to the newly-formed ascending channel.The currency pair pierced the lower boundary of the ascending channel and made a U-turn north.
The currency exchange rate found support at the 55– hour simple moving average, afterwards, the pair surged. However, the 200– hour SMA restricted bulls from making any further gains.
By and large, it is expected that the rate to continue moving north until it breaches the upper boundary of the channel up due to the weakness of the Canadian fundamental data releases.