USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Wed, 20 Jan 2021 07:51:44 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
73%
1.7%
Shorts
26%
27%
-4.7%
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)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇘
The US Dollar declined by 36 points or 0.28% against the Canadian Dollar on Tuesday. The currency pair breached the 50, 100– and 200– hour SMAs during Tuesday's trading session.
All things being equal, the exchange rate is likely to continue to edge lower in a narrow descending channel pattern. A breakout through the lower boundary of the descending channel could occur within this session.
However, if the channel pattern holds, the USD/CAD currency exchange rate could make a brief pullback towards the 1.2740 level today.
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.