EUR/USD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most traded currency pair unremittingly strives to recover losses after a plunge from a two-year high of 1.3895 in late December. The rise has been performed within a channel up pattern that has been helping the pair not to fall below its lower limit but at the same time has been blocking jumps above its upper boundary.
At the moment, the pair is a subject to a heavy selling pressure that started to weigh on EUR/USD after the 50-hours SMA dived below the 200-hour SMA. However, 53% of market players are still expecting the pair to rebound in the following sessions.
© Dukascopy Bank SA
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