USD/CAD affected by fundamental events

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

Positions Today Yesterday % Change
Longs 37% 43% -16.22%
Shorts 63% 57% 9.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The USD/CAD exchange rate has been mostly affected by the fundamental event. The reason for this is because of the US president Donald Trump's administration slapping tariffs on aluminum and steel for its close allies. Namely, Canada, Mexico, and the European Union. 

The pair has been trading in high volatility during the last four days fluctuating between 1.28 and 1.30 range since it was announced. However, the first half of Monday's session was relatively calm.

Due to the uncertainty in the market, it is very difficult for technical analysis to play out. It would be advised for traders to stay clear of the US currency pairs in the short term.     

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