Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Sell |
RSI (14) | Neutral | Sell | Neutral |
Stochastic (5; 3) | Buy | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Neutral |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇑ | ⇒ | ⇒ |
The Canadian Dollar is forming a new pattern against the Hong Kong Dollar. The reason for that is the fact that the pair recently broke out to the upside out of a triangle pattern, which dictated the pair's movements throughout May and half of June. The new pattern is most likely going to guide the currency exchange rate in a medium term surge. However, the theory of a rate continuing in the direction of a breakout need to be strengthened. For example, the SWFX sentiment shows that the pair is clearly overbought, as 74% of open positions are long. This means that a retreat might take place first. A short term consolidation might reveal the lower border of the new trend.