USD/CAD could still edge lower - Technical Analysis - Dukascopy Bank
Tue, 29 Dec 2020 07:58:18 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
70%
73%
-3.5%
Shorts
30%
27%
8.3%
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)
Neutral
Neutral
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇘
The US Dollar surged by 57 basis points or 0.44% against the Canadian Dollar during the first half of yesterday's trading session. The currency pair tested the upper line of a descending channel pattern at 1.2868 on Monday.
Technical indicators demonstrate that the exchange rate is likely to edge lower during the following trading session. The potential target for bears would be at the weekly S1 at 1.2780.
However, the 200– hour simple moving average at 1.2822 could provide resistance for the currency exchange rate 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.