| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.4000 | Monthly R2 | MACD (12; 26; 9) | Buy | Buy | Buy | ||
| R3 | 1.3875 | Weekly R2 | RSI (14) | Neutral | Sell | Neutral | ||
| R2 | 1.3830/50 | Monthly R1; 61.80% Fibo; trend lines | Stochastic (5; 3; 3) | Sell | Sell | Buy | ||
| R1 | 1.3750/67 | Trend line; weekly R1 | ADX (14) | Buy | Buy | Neutral | ||
| S1 | 1.3693 | Trend line | CCI (14) | Neutral | Sell | Sell | ||
| S2 | 1.3599/76 | 55-period SMA; weekly PP; 50.00% Fibo | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.3527 | Monthly PP | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.3484/81 | 100-period SMA; weekly S1 | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↗ |
Note: This section contains information in English only.
The US Dollar continues to trade against the Canadian Dollar in the already twice reviewed ascending channel pattern. However, once more new developments have pressed for an updated analysis. First of all the upper trend line of the medium scale ascending channel pattern has been reached, and more than enough clues indicate that a reversal is about to occur. However, it is not still clear what kind of new short term pattern will be formed, as the clues indicate that the rate might retreat down to the 50.00% Fibonacci retracement level, which is located at the 1.3576 level. At that level support might be found for the continuation of the surge.
Wed, 03 May 2017 14:08:06 GMT
Source: Dukascopy Bank SA