Positions | Today | Yesterday | Change |
---|---|---|---|
Longs | 26% | 26% | -1.0% |
Shorts | 74% | 74% | 0.4% |
Indicator | 4H | 1D | 1W |
MACD(12;26;9) | Buy | Buy | Buy |
RSI(14) | Neutral | Sell | Sell |
Stochastic(5;3;3) | Neutral | Neutral | Sell |
Alligator(13;8;5) | Buy | Buy | Buy |
SAR(0.02;0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇗ | ⇒ |
The US Dollar has declined by 210 pips or 1.45% in value against the Canadian Dollar since yesterday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern on Wednesday morning.
Given that a breakout had occurred, the USD/CAD exchange rate will likely continue to slide lower. Bearish traders might target the 1.4100 area within the following trading session.
However, a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 1.4263 could provide support for the currency exchange rate within today's session.