USD/CAD flashes two strong signals

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 52% 59% -13.46%
Shorts 48% 41% 14.58%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Despite several attempts made by bulls to take control of the market and push the rate higher on Wednesday, the movement of the US Dollar was guided by bearish sentiment and the 55-hour simple moving average.

Technical indicators flash two strong signals. On the 4H and daily time-frame, its favour subsequent bearish momentum that could dominate the exchange rate within this session.

On the weekly time-frame, technical sentiment demonstrates a strong bullish signal. This might suggest that the currency exchange rate is likely to end this week with strong bullish momentum.

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