Positions | Today | Yesterday | % Change | |
Longs | 74% | 71% | 4.05% | |
Shorts | 26% | 29% | -11.54% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Buy | Sell | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Sell | |
SAR (0.02; 0.2) | Sell | Sell | Sell | |
Aggregate | ⇘ | ⇓ | ⇘ |
Following an unsuccessful test of the 55-, 100– and 200-hour SMAs mid-Thursday, the US Dollar managed to maintain its southward movement during the following session, as well. Even though the first part of the day marked a 93-pip fall against the Yen, bulls managed to equalise their positions later in the session, thus entering a short period of consolidation.
Technical indicators still flash bearish signals, suggesting that the rate should move towards the weekly and monthly S1s and the bottom boundary of a senior channel circa 104.70. However, some bullish momentum should soon take over the market, thus sending the pair towards the 106.20 area and eventually even higher.
If the Greenback fails to edge lower during the following hours, this might be an early indication of a possible surge north.