EUR/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single currency has been rallying versus the U.S. Dollar for more than a week; the advance has been developing within the limits of the narrow corridor that at the moment of writing was 98-bar long. Market players are moderately bullish on the pair; 53.13% of them call for an appreciation. Technical indicators suggest that still the pair may experience a short-term weakness followed by a strength in the longer term. If the bullish outlook materializes, the pair is likely to use its daily pivot point at 1.3757 as a prop for a further rally towards resistance zone at 1.3767/95 that if overcome will push a two-month high to the fore.
© Dukascopy Bank SA
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Wed, 11 Dec 2013 12:47:31 GMT

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