EUR/USD expected to go up

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 39% 38% 2.56%
Shorts 61% 62% -1.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Despite surging early on Thursday, the Euro failed to pick up momentum against the US Dollar, as it was pressured from above by the psychological 1.14 level. Support was set by the 55-hour SMA near 1.1316. These two barriers forced the rate to trade in a narrow range the whole session yesterday. 

Technical indicators are still bullish. This means that the Euro could find support at the 100-hour SMA and the monthly S3 followed by a surge towards the monthly S2, the 200-hour moving average and the upper boundary of a medium-term channel at 1.1470. A move above this level is not yet expected. 

In case the 55-hour SMA is breached to the downside, a trend-line which is expected to limit any bearish gains is located at 1.13 .

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.