EUR/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/USD witnessed a sharp decline after it hit a three-week high on November 20. A day before the pair reached this peak, it had commenced a formation of the channel down pattern that put heavy downside pressure on the most traded currency couple. At the moment of writing, selling pressure seemed to start abating thus allowing the pair to near the upper boundary of the pattern. However, we are not likely to observe a bullish breakout in the nearest hours as market players believe that the pair will retreat; 55.81% of them bet on depreciation of the pair.
© Dukascopy Bank SA
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