USD/CAD bearish wave continues

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

Positions Today Yesterday % Change
Longs 62% 44% 29.03%
Shorts 38% 56% -47.37%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The US Dollar spent Wednesday's trading with low volatility against the Canadian Dollar. The USD/CAD currency pair was guided mainly by the 55– hour simple moving average.

Considering that the Greenback has been unable to make a new wave to the upside, it is very unlikely that a significant change to the price movement could occur during the following session.

By the middle of Thursday's trading session, a resistance cluster set by the combination of the weekly, the monthly and the 55-hour SMA near the 1.26 mark was restricting the exchange rate potential upward move. Meanwhile, technical indicators suggest that bears are likely to grow strong within this session.

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