USD/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 183-bar long channel up pattern formed by USD/CAD started on September 19 when the pair hit almost a three-month low. Since then, the currency couple was on the upside and by the end of October recovered most of its losses, approaching a two-month high. Traders are not univocal on the perspectives of the pair, with the number of short positions being only slightly smaller than the number of the long ones. Technical indicators make the situation less obscure, sending bullish signals for the medium-term.
© Dukascopy Bank SA

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