Positions | Today | Yesterday | % Change | |
Longs | 73% | 68% | 6.85% | |
Shorts | 27% | 32% | -18.52% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Buy | Buy | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Sell | |
SAR (0.02; 0.2) | Sell | Sell | Sell | |
Aggregate | ⇘ | ⇘ | ⇘ |
The early hours of Tuesday trading session showed that the American Dollar is continuing to trade against the Canadian Dollar in a recently formed descending channel. The currency pair made one attempt to break to the top, but was reversed by a combination of the 20- and 55-hour SMA near the 1.2668 mark. It is expected that the rate will subsequently bounce off from the bottom trend-line and then continue to move within the channel, as for now it has only four confirmation points. On the other hand, there is also a possibility that a downside momentum given by the above combined resistance level will escort the pair out of the pattern towards the monthly S2 at 1.2552 and the weekly S1 at 1.2546.