USD/CAD could make brief retracement - Technical Analysis - Dukascopy Bank
Mon, 22 Feb 2021 08:53:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
73%
-3.3%
Shorts
29%
27%
8.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇘
Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, the USD/CAD exchange rate declined by 117 pips or 0.92% during Friday's trading session.
Technical indicators suggest selling signals on all time-frame charts. Most likely, bearish traders are likely to pressure the currency pair lower within the following trading session.
However, the currency exchange rate might make a brief retracement towards the 200– hour simple moving average at 1.2679 today.
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