Positions | Today | Yesterday | % Change | |
Longs | 27% | 36% | -33.33% | |
Shorts | 73% | 64% | 12.33% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Neutral | Buy | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇗ | ⇒ | ⇒ |
Driven by solid upside risks since September 14, the New Zealand managed to breach a minor descending channel and even test the 50.0% Fibo and the weekly R1 near the 0.7345 mark.
The given area, however, proved to be a turning point that set the pair for a decline past the 38.2% Fibo and towards a strong support set by the weekly PP and the 100-, 55– and 200-hour SMAs in the 0.7270/55 area.
Even if this support cluster is reached, it is unlikely that bears gain enough momentum to break past it. Consequently, the rate should end the current short-term correction against the general wave up and try to push for the weekly R1 and the 50.0% Fibonacci retracement once more.