EUR/USD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most popular currency couple is continuing its appreciation that was started early February. EUR/USD is locked within the bullish corridor that is helping the pair to reach record highs. Recently, EUR/USD has touched a two-year high of 1.3968 and despite retreating slightly during the last 11 hours, it may try to re-approach this high given that almost two thirds of traders bet on appreciation of the pair. If these expectations materialize, the pair will try to breach a cluster of resistances at 1.3910/30 (daily PP, R1, R2, R3), above which there is nothing to prevent the pair from hitting and even surpassing the two-year high.
© Dukascopy Bank SA
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