Positions | Today | Yesterday | % Change | |
Longs | 66% | 67% | -1.52% | |
Shorts | 34% | 33% | 2.94% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Buy | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Sell | |
Aggregate | ⇘ | ⇘ | ⇘ |
On Tuesday, the US Dollar continued to trade against its Canadian counterpart in an ascending triangle. The rate was fluctuating around the 55– and 100-hour SMAs, failing to demonstrate a distinctive move either direction. Thus, the market was calm before important fundamentals mid-session. The BOC Monetary Policy Report and Rate Statement were released at 1400GMT and the pair responded accordingly with a 42-pip fall in one minute. This move pushed the rate in the oversold region, suggesting that a reversal to the upside is a very strong possibility. There are no resistances up to the lower triangle boundary circa 1.2900; thus, a possible stopping point is yet unclear. It is likely that no massive leaps occur in the upcoming hours, so the US Dollar could trade in the 1.2850/1.2880 area by Thursday evening.