Positions | Today | Yesterday | % Change | |
Longs | 42% | 51% | -21.43% | |
Shorts | 58% | 49% | 15.52% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Neutral | Sell | Neutral | |
Alligator (13; 8; 5) | Buy | Sell | Buy | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇗ | ⇘ | ⇒ |
The massive surge up to the 0.7340 mark that was apparent on Friday was followed by a similar-scale decline. As a result, the rate had returned near 0.7226—the same level as late Thursday.
The location of the latest valley allowed for a southward adjustment of the bottom channel boundary. The given pattern, however, may no longer bound the pair. The last peak was halted by the 38.2% Fibonacci retracement line circa 0.73 - a level which was not even close to its previous high. This implies that the bullish sentiment has allayed and might eventually give the dominant hand to bears.
Thus, it is expected that the Kiwi depreciates against the US Dollar until mid-Tuesday and try to reach for the 200-hour SMA.