USD/CAD trading sideways

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

Positions Today Yesterday % Change
Longs 25% 29% -16.00%
Shorts 75% 71% 5.33%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Lack of fundamentals event on Monday resulted in the US Dollar to trade sideways against the Canadian Dollar. The currency pair was unable to surpass the 55– and 100-hour SMAs.

When looking at the exchange rate movement for the past few weeks, one can notice that the pair has been moving to the upside systematically and as a result, the pair reached a one-year high few days ago.

In the meantime, technical indicators flash buy signals. This might suggest that the USD/CAD currency exchange rate is likely to make a U-turn north during the following trading session.

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