USD/CAD could continue to trend bullish - Technical Analysis - Dukascopy Bank
Thu, 28 Jan 2021 07:42:52 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
70%
71%
-1.1%
Shorts
30%
29%
2.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇗
⇒
⇘
Upside risks have dominated the US Dollar against the Canadian Dollar since yesterday's trading session. The currency pair has surged 158 points or 1.25% since Wednesday.
All things being equal, the exchange rate is likely to continue to trend bullish during the following trading session. The potential target for bulls would be near the 1.2950 area.
However, the weekly R2 at 1.2915 could provide resistance for the USD/CAD currency exchange rate in the short-term.
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