USD/CAD surge as predicted

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

Positions Today Yesterday % Change
Longs 52% 45% 13.46%
Shorts 48% 55% -14.58%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The Greenback continue its movement in an ascending channel against the Canadian Dollar. By the end of trading day on Monday, the currency pair has moved past the double-header resistance level at 1.2920.

During the second part of Tuesday's trading session, the USD/CAD currency pair has accumulated more than 100 base point. The exchange rate is moving upwards to test the upper boundary of a large-scale triangle. A strong support cluster formed by the combination of the 55-, 100-, and the 200– hour SMAs has helped in pushing the rate higher.

As for near future, bulls are likely to continue their dominance over the currency exchange rate until it reaches the aforementioned up border.

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