Positions | Today | Yesterday | % Change | |
Longs | 32% | 34% | -6.25% | |
Shorts | 68% | 66% | 2.94% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Neutral | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Buy | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇒ | ⇗ | ⇗ |
It was no surprise when the massive surge on Thursday and Friday was followed by a correction period, thus erasing nearly half of gains accumulated during these two days. As a result, the Aussie retraced back to 0.8040—a level where both channels coincide (the junior pattern was altered slightly to include the new changes).
Meanwhile, it seems that reaching the two-year peak at 0.8120 is likely to pressure the rate downwards. This scenario might occur today already if the Aussie breaches the bottom boundary of the junior channel.
This bearish assumption is supported by the fact that the 55-hour SMA proved to be an unbreakable upside target for this session. It is expected that the Aussie might approach the 200-hour and remain in the 0.8020/00 area.