Positions | Today | Yesterday | % Change | |
Longs | 37% | 38% | -2.70% | |
Shorts | 63% | 62% | 1.59% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Neutral | |
Alligator (13; 8; 5) | Sell | Sell | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇓ | ⇘ | ⇗ |
As it can be seen on the chart, the US Dollar failed to score additional gains on Monday against the Canadian Dollar. The failure occurred due to the strength of the resistance of the 55-hour SMA at the 1.35 level. However, it might not have been only the resistance of the simple moving average, as the 1.35 level has shown historical resistance on its own. Due to that move the recently discovered ascending channel pattern has been broken and with it become obsolete. The pair is likely going to continue on its path downwards during the rest of the Tuesday's trading. The reason for that is the fact that the 55-hour SMA moved in lower to strengthen another resistance level in the form of the monthly PP at the 1.3487 level.