Positions | Today | Yesterday | % Change | |
Longs | 53% | 59% | -11.32% | |
Shorts | 47% | 41% | 12.77% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Buy | |
RSI (14) | Sell | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
Alligator (13; 8; 5) | Buy | Neutral | Buy | |
SAR (0.02; 0.2) | Buy | Buy | Buy | |
Aggregate | ⇒ | ⇒ | ⇑ |
Upside momentum prevailed in the market on Friday, thus sending the US Dollar to gained 102 base points against the Canadian Dollar. This gains, however, was limited by the 38.20% Fibonacci retracement level. This retracement can be measured by connecting the July high at 1.3290 and the low at 1.2964.
Along the way, the currency pair breached a strong resistance level set by the combination of the weekly and the monthly PPs near the 1.3093 mark.
On the larger time-frame, technical indicators flash a strong buy signal. However, it is likely that the USD/USD currency exchange rate makes a brief retracement down within this trading session.