USD/CAD selling signals - Technical Analysis - Dukascopy Bank
Thu, 26 Nov 2020 09:19:23 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
70%
74%
-4.8%
Shorts
30%
26%
11.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇘
The US Dollar declined by 37 basis points or 0.28% against the Canadian Dollar on Wednesday. The currency pair tested the lower boundary of a descending channel pattern at 1.2938 during yesterday's trading session.
Technical indicators suggest that the exchange rate could continue to edge lower during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, the currency exchange rate could bounce off from the lower line of the descending channel pattern and target the 1.3038 within this session.
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