USD/CAD breakout could occur - Technical Analysis - Dukascopy Bank
Tue, 05 Jan 2021 08:01:15 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
72%
1.6%
Shorts
27%
28%
-4.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇒
⇘
The USD/CAD currency pair bounced off from the lower line of a descending channel pattern at 1.2665 on Monday. As a result, the US Dollar rose by 100 basis points or 0.85% during yesterday's trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. A breakout through the upper boundary of the channel pattern could occur.
However, if the descending channel hold, bears could pressure the currency exchange rate towards the 1.2665 area 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.