USD/CAD breakout occurs - Technical Analysis - Dukascopy Bank
Fri, 09 Oct 2020 07:43:59 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
74%
-1.6%
Shorts
27%
26%
4.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Neutral
Sell
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇒
The US Dollar has risen by 98 points or 0.74% against the Canadian Dollar since Thursday's trading session. The currency pair breached the lower boundary of a descending channel pattern at 1.3177 on Friday morning.
Given that the exchange rate has breached the lower boundary of the channel pattern, bearish traders could continue to pressure the USD/CAD pair lower during the following trading session.
However, the currency exchange rate could make a brief pullback towards the 1.3245 level within this session.
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