USD/CAD breakout occurred

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

Positions Today Yesterday % Change
Longs 45% 43% 4.44%
Shorts 55% 57% -3.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The US Dollar has declined against the Canadian Dollar following Canadian gross domestic product data released on Thursday. The Greenback initially gained some 30 basis points after the data was released. However, the rate was restricted by the 200-hour simple moving average.

Due to that reason, the USD/CAD exchange rate breached the lower boundary of a junior ascending channel. During the European trading session on Friday, the 55– and 100– hour SMAs were pressurizing the rate further south.

Given that a breakout had occurred, the currency exchange rate could continue falling until it reaches the bottom border of a dominant pattern.

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