USD/CAD breakout occurs - Technical Analysis - Dukascopy Bank
Fri, 16 Oct 2020 06:51:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
74%
-4.9%
Shorts
29%
26%
11.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇘
⇒
The US Dollar surged by 97 basis points or 0.74% against the Canadian Dollar on Thursday. A breakout occurred through the upper line of a descending channel pattern during Thursday's trading session.
Given that a breakout has occurred, the exchange rate could continue to trend bullish during the following trading session. The possible target for the USD/CAD pair would be at the 1.3300 level.
However, the currency exchange rate is likely to make a brief pullback towards the 200– hour simple moving average at 1.3194 within this session.
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.