USD/CAD supported by SMAs

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

Positions Today Yesterday % Change
Longs 36% 47% -30.56%
Shorts 64% 53% 17.19%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The USD/CAD exchange rate has been trading in a triangle like pattern since last week. The pair has been bouncing between the upper and lower boundaries of the medium-term triangle.

By the middle of Monday's session, the currency pair was stranded between SMAs. The 55-and 100– hour simple moving averages was providing strong support for the rate.

As for near future, bulls are likely going to prevail in the market. In the meantime, Technical indicators flash strong bullish signals.

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