Positions | Today | Yesterday | % Change | |
Longs | 72% | 71% | 1.39% | |
Shorts | 28% | 29% | -3.57% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Neutral | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Sell | |
Aggregate | ⇒ | ⇓ | ⇓ |
The bullish market sentiment prevailed on Tuesday's session, resulting in a breakout of the 55– and 100-hour SMAs and the weekly PP. The 200-hour SMA, however, proved to be a strong barrier that reversed the rate's direction south. The price rebounded from the shorter-term SMAs early on Wednesday and resumed its appreciation.
Technical indicators favour another reversal that is likely to be a short-term correction against the general movement up. By and large, the channel is not expected to hold any longer; thus, the US Dollar may reach and bounce off the 1.2500 area—an intersection of the 55– and 100-hour SMAs—and remain near 1.26.