USD/CAD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Mon, 18 Jan 2021 07:59:36 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
71%
3.5%
Shorts
27%
29%
-9.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
⇘
The US Dollar jumped by approximately 100 basis points or 0.78% against the Canadian Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday's trading session.
As for the near future, the exchange rate could continue to trend bullish. Bulls are likely to target the weekly resistance level at 1.2833 during the following trading session.
However, a resistance line at 1.2785 could provide a barrier for bullish traders in the shorter term.
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