Positions | Today | Yesterday | % Change | |
Longs | 56% | 58% | -3.57% | |
Shorts | 44% | 42% | 4.55% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Sell | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Buy | |
Alligator (13; 8; 5) | Buy | Buy | Buy | |
SAR (0.02; 0.2) | Buy | Buy | Buy | |
Aggregate | ⇒ | ⇗ | ⇑ |
Thursday's trading session was characterized by strong upside momentum that was stopped by the monthly R1 near the 1.3036 mark. The given direction reveals the formation of a minor ascending channel that would suggest a fall down to the 55-hour SMA or the monthly PP at 1.2938 and 1.2903, accordingly. Even though technical indicators remain bullish, trend indicators demonstrate that the given up-trend is decreasing in strength, thus confirming a possible move south in this session. On Monday morning, however, the rate may return near the 1.3000 if the channel-up boundaries are respected. By and large, the rate is expected to trade in the 1.3036/1.2903 area. Being so close to the upper channel boundary means that positive UK Current Account data may breach the upper limit for a while.