Positions | Today | Yesterday | % Change | |
Longs | 46% | 37% | 19.57% | |
Shorts | 54% | 63% | -16.67% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Buy | |
Alligator (13; 8; 5) | Buy | Buy | Neutral | |
SAR (0.02; 0.2) | Buy | Buy | Buy | |
Aggregate | ⇗ | ⇗ | ⇒ |
As apparent on the chart, bears were dominating the market during the past 24 hours. The rate was testing the weekly R2 and the upper barrier of its five-week range circa 1.2910 prior to falling down to the 55-hour SMA.
Even though the pair tried to edge higher, solid Canadian GDP and unemployment data at 1330GMT sent the pair for a 78-pip plunge within the first minute after the release. The pair dashed through the 100-hour SMA and the monthly PP, but was nevertheless stopped by the 200-hour SMA at 1.2780.
By and large, it is expected that the US Dollar tries to recover some of its lost positions within the remaining hours of this session and even on Monday.
The 1.2825 area could provide some resistance for the pair, but, if breached, a more probable upside target is the 55-hour SMA.