USD/CAD reveals new pattern

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

Positions Today Yesterday % Change
Longs 71% 70% 1.41%
Shorts 29% 30% -3.45%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

USD/CAD is another pair, which failed to break the resistance of the 100-hour simple moving average. These developments enforce the need to use this indicator for technical analysis. 

The resulting decline of the pair has helped in mapping out the new junior pattern. During the middle of the Thursday's trading session the rate suddenly rebounded, giving the possibility to draw a descending channel. In accordance with the channel a rebound is set to continue. 

However, it is doubtful that the surge will pass the 55 and 100-hour SMAs. More likely the rate will be forced into the 1.25 mark, where the weekly S1 is at.

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