USD/CAD breakout likely to occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs46%45%3.6%
Shorts54%55%-3.1%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The US Dollar remained flat against the Canadian Dollar on Tuesday. The currency pair tested the bottom border of a horizontal channel pattern at the end of yesterday's trading session.

Given that the 50-, 100– and 200-hour SMAs are above the price level, it is likely that the USD/CAD currency pair will continue to trade south during the following trading session.

A breakout through the lower boundary of the horizontal channel is likely to occur within this session.

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