Positions | Today | Yesterday | % Change | |
Longs | 44% | 37% | 15.91% | |
Shorts | 56% | 63% | -12.50% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Buy | |
RSI (14) | Buy | Buy | Neutral | |
Stochastic (5; 3; 3) | Buy | Buy | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Buy | |
SAR (0.02; 0.2) | Sell | Sell | Buy | |
Aggregate | ⇒ | ⇒ | ⇗ |
The USD/CAD exchange rate continued to depreciate on Wednesday but with considerably lower volatility than the previous sessions. However, the pair still managed to breach the lower boundary of a dotted trend-line.
Given that a breakout had occurred through the bottom border of a dominant descending channel, the US Dollar could target a support level formed by the weekly S3 at 1.2488.
Contrarily, bulls might try to introduce a slight upside potential within this session. Nevertheless, technical indicators demonstrate that the aforementioned downside target could be fulfilled during the next 24hrs.