USD/CAD short-term retracement

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

Positions Today Yesterday % Change
Longs 29% 39% -34.48%
Shorts 71% 61% 14.08%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Upside momentum prevailed in the market on Friday, thus letting the Greenback to gained further 60 basis point against the Canadian Dollar.

A change in sentiment occurred during the European trading session on Monday, as the US Dollar weakened against the Loonie. However, it is important to note that the overall price movement was guided by the 55-hour simple moving average.

As for near future, it is likely the Buck is heading south within the following trading sessions. This bearish moves might find support at either the monthly pivot point near 1.3032 or at a cluster set by the weekly PP and the 100-hour SMA near 1.3001.

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