Positions | Today | Yesterday | % Change | |
Longs | 58% | 58% | 0.00% | |
Shorts | 42% | 42% | 0.00% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Sell | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Sell | Neutral | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇒ | ⇘ | ⇘ |
The whole previous trading session the exchange rate spent exactly as expected.
First, the yellow metal continued to advance against the buck in a minor rising wedge pattern that has formed at the intersection of two junior ascending channels.
Second, it surged to the 38.2% Fibonacci retracement level located at 1,268.00 and then pulled back to the weekly R1.
Today the rate is expected resume the upward movement using the support provided by 55-hour SMA that lies along the lower trend line of the pattern.
However, by the end of the day the pattern most probably will be dissolved. In this respect, a resistance zone located around the 1,269.00 level as well as the upcoming release of the US Final GDP data suggests that the breakout will happen to southern direction.