Positions | Today | Yesterday | % Change | |
Longs | 39% | 46% | -17.95% | |
Shorts | 61% | 54% | 11.48% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Neutral | |
Alligator (13; 8; 5) | Neutral | Neutral | Buy | |
SAR (0.02; 0.2) | Buy | Sell | Sell | |
Aggregate | ⇒ | ⇒ | ⇒ |
During the last 24 hours up to the review of the USD/CAD pair, the currency exchange rate had erased all of the decline, which had occurred since the middle of May 18th trading session.
From a technical perspective the reason for the surge was caused by the support of the monthly PP, which caused the rate to initiate a surge from 1.2746 to 1.2890 by the middle of Wednesday.
However, the most important factor by midday was that the pair had broken the resistance of a dominant channel down pattern near the 1.2880 mark. That indicates that the surge was set to continue even higher.