Positions | Today | Yesterday | % Change | |
Longs | 66% | 66% | 0.00% | |
Shorts | 34% | 34% | 0.00% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Neutral | Sell | |
Alligator (13; 8; 5) | Neutral | Sell | Sell | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇒ | ⇘ | ⇘ |
Tuesday's trading session confirmed that the US Dollar is gradually regaining some strength against the Loonie. The pair has already appreciated 80 pips after the massive plunge mid-Friday. As a result, the prevailing channel down was breached to the upside.
At the time of this analysis, the US Dollar had breached the 100-hour SMA and was testing the 55-hour moving average. A successfully breakout of this line would point to the prevalence of the bearish sentiment. This scenario is likewise supported by technical indicators, although these signals are not very clear. The aforementioned fall, however, might be short-lived due to the monthly S1 being located at 1.2420.
On the other hand, a possible surge could be limited by the 200-hour SMA at 1.25.