USD/CAD short period of consolidation

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

Positions Today Yesterday % Change
Longs 72% 64% 11.11%
Shorts 28% 36% -28.57%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

After a long period of decline, the US Dollar has started gaining ground against its Canadian counterpart. By the end of Friday's trading session, the pair had broken all previously drawn channels. 

During the first part of the European trading session, the market had a short period of consolidation due to the fact that traders were still indecisive. 

Everything being equal, the bull is likely to take over the pair in the near future. If and when this happens, the pair might find resistance at the weekly pivot point at the 1.2494 mark.

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