USD/CAD bounces off support

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

Positions Today Yesterday % Change
Longs 58% 54% 6.90%
Shorts 42% 46% -9.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Downside risks dominated the US Dollar against the Canadian Dollar on Friday, as it fell 0.73% during the end of the trading session. The resulted in the currency pair to breached both the 50–, 100-, and 200-hour SMAs.

However, the exchange rate bounced off the lower boundary of a newly formed junior ascending channel, and by the middle of the European trading session on Monday, the pair has reached near a resistance cluster at 1.3040.

It seems that the currency exchange rate might be hindered to make an upside movement today because of the resistance cluster mentioned above.  

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.