Positions | Today | Yesterday | % Change | |
Longs | 49% | 47% | 4.08% | |
Shorts | 51% | 53% | -3.92% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Buy | Sell | |
SAR (0.02; 0.2) | Sell | Sell | Buy | |
Aggregate | ⇒ | ⇒ | ⇘ |
During the past 24 hours, the US Dollar has been dashing through various support/resistance levels, testing their boundaries for several hours but nevertheless failing to show any distinctive direction.
The combined US/Canadian data release changed drastically this lack of movement. Even though Canada's CPI was in line with expectations, solid US building permits initiated a buying spree for the US Dollar. As a result, the rate surged 40 pips within the first 15 minutes after the release.
As apparent on the chart, the Greenback has been trading in a channel up for the last six sessions. It is likely that the rate continues to move upwards after a minor correction south. This would in turn breach this junior channel and allow the Greenback to approach the weekly R2 at 1.2880.