USD/CAD sell signals - Technical Analysis - Dukascopy Bank
Tue, 08 Dec 2020 09:20:39 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
73%
-0.8%
Shorts
27%
27%
2.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Neutral
Stochastic(5;3;3)
Buy
Buy
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇘
The US Dollar edged higher by 48 basis points or 0.37% against the Canadian Dollar on Monday. The surge was stopped by the 50– hour simple moving average during yesterday's trading session.
Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could keep falling in a descending channel pattern during the following trading session.
However, the lower line of the descending channel pattern could provide support for the currency exchange rate in the shorter term.
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