USD/CAD trading sideways

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

Positions Today Yesterday % Change
Longs 63% 63% 0.00%
Shorts 37% 37% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

As previously forecasted by the Dukascopy research team, the pair met with a strong support cluster near the 1.2450 mark, where the 55 – hour, 100 – hour and 200 – hour SMAs together with the weekly PP are providing support.

Overall, the medium scale ascending channel still holds; thus, a new junior pattern was drawn to confirm the direction of the pair.

Due to the aforementioned description, it can be assumed that the pair is likely to trade either direction. If the SMAs keep holding the rate, it is like to find resistance around the weekly and monthly PPs near 1.2529.

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