USD/CAD drops by 50 pips

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

Positions Today Yesterday % Change
Longs 74% 73% 1.35%
Shorts 26% 27% -3.85%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

In accordance with prognoses, the currency pair bounced off from a combination of the 55-hour SMA and the bottom trend-line of an ascending channel, and used this impulse to jump to the desired weekly R1 at 1.2738. Unfortunately, a combined effect from a release of the US Unemployment Claims and PPI and well as the Canadian NHPI threw the currency rate down by 50 basis points. The downfall was stopped only near the 100-hour SMA at 1.2675. In the rest of the day the rate, most probably, is going to try to recover some of the lost positions and, thus, get back to the above weekly R1. As majority of traders continue to hold long positions, the pair is expected to continue to move in the northern direction at least until the end of this week.

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