Positions | Today | Yesterday | % Change | |
Longs | 54% | 55% | -1.85% | |
Shorts | 46% | 45% | 2.17% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Neutral | Sell | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇘ | ⇘ | ⇗ |
Due to release of better than expected data on import prices and industrial production the buck appreciated quite sharply against the gold and has practically reached the bottom boundary of a medium ascending channel.
From daily perspective it seems that bears are going to try to drag the pair to the 61.8% Fibonacci retracement level at 1,278.96. On hourly chart such scenario is supported by the 200-hour SMA, which is now located above the current market price.
However, in order to reach that target the rate has to pass through a combined support set up by the above channel's boundary and the weekly S1.
Although the average market sentiment is 61% bullish, it is unlikely that this support will manage to turn around the exchange rate (unless some unexpected fundamental event will occur).