| Positions | Today | Yesterday | Change |
|---|---|---|---|
| Longs | 42% | 36% | 14.5% |
| Shorts | 58% | 64% | -10.6% |
| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇗ | ⇘ |
The US Dollar has been depreciating in a junior descending channel pattern against the Canadian Dollar since November 14. The currency pair declined by 34 basis points during yesterday's trading session.
All things being equal, the USD/CAD exchange rate will most likely continue to edge lower in the descending channel during the following trading session. Bears could drive the price towards the 1.3180 area.
However, a support level formed by the weekly S1 at 1.3198 could provide support for the currency exchange rate in the shorter term.