USD/CAD selling signals - Technical Analysis - Dukascopy Bank
Mon, 05 Oct 2020 07:09:19 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
64%
64%
-0.2%
Shorts
36%
36%
0.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇒
The US Dollar surged by 40 pips or 0.30% against the Canadian Dollar on Friday. The currency pair tested the upper border of a descending channel pattern at 1.3330 during Friday's trading session.
The exchange rate reversed from the upper boundary of the descending channel late Friday session. Most likely, bearish traders will pressure the USD/CAD pair lower today.
However, a support cluster formed by the monthly pivot point and the weekly S1 at 1.3243 could provide support for the currency exchange rate during the following trading session.
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