Positions | Today | Yesterday | % Change | |
Longs | 44% | 47% | -6.82% | |
Shorts | 56% | 53% | 5.36% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Buy | |
Alligator (13; 8; 5) | Neutral | Buy | Neutral | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇒ | ⇗ | ⇒ |
During the first half of Thursday's trading session the US Dollar confirmed the location of a previously speculated support line against the Canadian Dollar. Combining that with the previously known location of a larger channel down pattern, a hypothesis can be made.
The rate is about to get squeezed in a triangle, whose resistance will be the one of the mentioned channel down pattern, and the support will be provided by the just reconfirmed support line.
Taking into account the direction of the larger channel, it is forecast that the breakout from the triangle will happen to the downside.