Technical Analysis

USD/CAD two scenarios likely
Tue, 17 Sep 2019 09:29:10 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs51%52%-3.7%
Shorts49%48%3.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The 50– hour simple moving average led the movement of the US Dollar against the Canadian Dollar on Monday. The currency pair appreciated about 50 basis points during the previous trading session.

Two situations are likely to occur in regards to the exchange rate in the next 24 hours. Firstly, the price could surpass the monthly pivot point at 1.3277 and aim for the upper boundary of a junior ascending channel pattern at 1.3320 within the following session.

On the other hand, if the monthly PP as mentioned earlier holds, a breakout might occur through the lower boundary of the channel pattern today.


Back to feed

To learn more about Dukascopy Bank Forex trading platform, SWFX and other trading related information, please contact us: +41 22 799 4888

To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.