USD/CAD plunges mid-session

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

Positions Today Yesterday % Change
Longs 66% 67% -1.52%
Shorts 34% 33% 2.94%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

On Tuesday, the US Dollar continued to trade against its Canadian counterpart in an ascending triangle. The rate was fluctuating around the 55– and 100-hour SMAs, failing to demonstrate a distinctive move either direction. Thus, the market was calm before important fundamentals mid-session. The BOC Monetary Policy Report and Rate Statement were released at 1400GMT and the pair responded accordingly with a 42-pip fall in one minute. This move pushed the rate in the oversold region, suggesting that a reversal to the upside is a very strong possibility. There are no resistances up to the lower triangle boundary circa 1.2900; thus, a possible stopping point is yet unclear. It is likely that no massive leaps occur in the upcoming hours, so the US Dollar could trade in the 1.2850/1.2880 area by Thursday evening.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.